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New Member
posted Jul 14, 2022 4:41:53 PM

I collect social security what do I do? I don't make enough to have to file.

I want to file in case I can get a return in tax credits prices are sky high right now

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4 Replies
Level 15
Jul 14, 2022 4:54:49 PM

If your only income is SS benefits and you have no dependents to claim and did not have ACA insurance then you have no reason to file any tax returns.  

Level 15
Jul 14, 2022 4:55:21 PM

Your tax return is the form you send to the government that shows your income and calculates your tax. You don't get a return. You send your return to the government. Any money that the government sends to you is a refund, not a return.


You can file a tax return even if you are not required to. But if Social Security is your only income, and you don't have any dependents, there are only two ways you would get a refund.


1. The IRS did not send you the third stimulus payment. This is unlikely. But if they didn't send it, you would get it as a credit on your 2021 tax return.


2. You had income tax withheld from your Social Security benefits. If so, you would get that money back. The tax that was withheld, if any, is in box 6 of your Form SSA-1099.


If neither of those situations applies to you, you are not going to get any money by filing a tax return.


You could fill out a tax return in TurboTax and see if it says that you are going to get any money.

 

Level 15
Jul 14, 2022 6:28:42 PM

@geekundo-gmail-c for 2022,  we are back to the pre-pandemic days (unless Congress passes a tax cut - unlikely)....  if social security is your only form of income, there are no tax credits available... 

Level 15
Jul 15, 2022 5:50:22 AM

In which state do you live?  You might be eligible for a State tax credit of some type.