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I'm on social security and need to know how much I can make before I have to file taxes ?

 
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3 Replies

I'm on social security and need to know how much I can make before I have to file taxes ?

TAX ON SOCIAL SECURITY

Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2017 that limit is $16,920 —for 2018 it will be $17,040—for 2019 it will be $17,640)  After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 5a and 5b of your Form 1040

 

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

 

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

 

 

DO I NEED TO FILE A TAX RETURN?

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DianeC958
Expert Alumni

I'm on social security and need to know how much I can make before I have to file taxes ?

Depending on your age and filing status.  If your income is less than the Standard Deduction you are not required to file a tax return.

 

The Standard Deduction for 2019 is

 

Single $12,200

Head of Household $18,350

Married Filing Joint $24,400

Married Filing Separate $12,200

 

If none of your Social Security is taxable this does not count in figuring your taxable income.  If you have other income, based on your filing status, part of your Social Security may be taxable.  

 

For the 2019 and 2020 tax years, single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. If your combined income was more than $34,000, you will pay taxes on up to 85% of your Social Security benefits.

 

For married couples filing jointly, you will pay taxes on up to 50% of your Social Security income if you have a combined income of $32,000 to $44,000. If you have a combined income of more than $44,000, you can expect to pay taxes on up to 85% of your Social Security benefits.

@bargus-sims 

 

 

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Hal_Al
Level 15

I'm on social security and need to know how much I can make before I have to file taxes ?

The simple answer is $12,200 (a single person's filing requirement),  $13,850 if over age 64. But the answer varies dependent on marital status, filing status, age, the amount of your Social security, and whether you are claimed as a dependent by someone else.

 

 

 

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