I did not earn any income, only my pensions. So, is my interest on my pensions determined as income?

[johnpeter3]

I have my retirement checks sent to the bank and put in my account, as such I do earn a small amount of interest. But, I don't consider that as earning. Am I correct.

[DoninGA]

You should have received a Form 1099-R for the pension/retirement income.  The taxable amount of the pension would be reported in box 2a and any federal taxes withheld in box 4.  The federal taxes withheld would be reported on the tax return, Form 1040 Line 25b.  The taxable amount of the pension is reported on your tax return, Form 1040 Line 5b.

The taxable portion of the pension/retirement is entered on a tax return as ordinary income.  If this amount plus the amount of interest received is greater than the standard deduction for your filing status you are required to file a tax return.

Standard deductions for 2022

• Single - $12,950 add $1,750 if age 65 or older
• Married Filing Separately - $12,950 add $1,400 if age 65 or older
• Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
• Head of Household - $19,400 add $1,750 if age 65 or older

[SteamTrain]

And yes, the interest your account received is considered "income", and is subject to being entered in your tax return, and potential taxed if your income goes over either the Std or Itemized deductions.

The interest you "received" in your account should be reported as an entry in the tax software as a 1099-INT form, if the total amount generated in your account. for the entire year, was 50cents or greater.