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I am retired, did not work. my SS paid 31,614. I received 622 in interest income. I had a distribution of 20K gross out of my IRA , of which 2K was withheld for Fed Tax?
Do I have to file taxes?
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I am retired, did not work. my SS paid 31,614. I received 622 in interest income. I had a distribution of 20K gross out of my IRA , of which 2K was withheld for Fed Tax?
Yes you will have to file a tax return.
Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches:
- Married Filing Jointly - $32,000
- Single or Head of Household - $25,000
- Married Filing Separately - 0