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That depends on the amount of your pension and the amount of your social security income.
To find out whether any of your benefits may be taxable, compare the base amount for your filing status with the total of:
The base amount for your filing status is:
Example: Base Amount-Single $25,000
Social Security $22,000 x .5 = $11,000
Other Income pension $13,000
Base Amount (25,000) $24,000 compare to $25,000 since less, NO SS is taxable.
The only potentially taxable income would be the Union Pension of $13,000. Filing requirement Single age 65 or older is $11.650.
In this situation there was more pension income $13,000 than the minimum filing requirement. Therefore a retur is required.
That depends on the amount of your pension and the amount of your social security income.
To find out whether any of your benefits may be taxable, compare the base amount for your filing status with the total of:
The base amount for your filing status is:
Example: Base Amount-Single $25,000
Social Security $22,000 x .5 = $11,000
Other Income pension $13,000
Base Amount (25,000) $24,000 compare to $25,000 since less, NO SS is taxable.
The only potentially taxable income would be the Union Pension of $13,000. Filing requirement Single age 65 or older is $11.650.
In this situation there was more pension income $13,000 than the minimum filing requirement. Therefore a retur is required.
That depends on the amount of your pension and the amount of your social security income.
To find out whether any of your benefits may be taxable, compare the base amount for your filing status with the total of:
The base amount for your filing status is:
Example: Base Amount-Single $25,000
Social Security $22,000 x .5 = $11,000
Other Income pension $13,000
Base Amount (25,000) $24,000 compare to $25,000 since less, NO SS is taxable.
The only potentially taxable income would be the Union Pension of $13,000. Filing requirement Single age 65 or older is $11.650.
In this situation there was more pension income $13,000 than the minimum filing requirement. Therefore a retur is required.
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