turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Should i file taxes?

If my social security disability benefit is less than 10 k and I won 1000 scratch off ticket in the lotto do I need to file taxes?  My understanding is that you have to make 25 k on all earned income if you file as a single person and 32 k if filing jointly to declare taxes.  Is this information correct? Can someone help me and post. Should I file or not? Thanks. Waiting for reply.

 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Should i file taxes?

Your math is not quite right.  The formula is that, if you are single, take half your social security plus all your other income; if that total is more than $25,000, then part of your social security is taxable.  Your other income is always taxable, except that it may be covered by standard deduction, which was $12,950 for 2022 and will be $13,850 for 2023.  In your case, the result of the formula is $6000, so your social security is not taxable, and even though the $1000 is considered taxable income, it is less than the standard deduction, so no tax will be owed (as long as you file single, head of household, or married filing jointly.)

 

However, if you happen to be married and file separately from your spouse ("married filing separately" status) then your social security income is automatically taxable and your standard deduction is zero.  So you need to file and pay tax.

 

Lastly, if you got a 1099-G from the lottery office, you need to file a return and report the income even though no tax will be owed.  The IRS will come looking for the money if you don't report it. 

Should i file taxes?

nevermind.  

Should i file taxes?


@VolvoGirl wrote:

@Opus 17   What formula is 6,000?


Half their social security is $5000, plus the lottery winnings of $1000=$6000.  Since that is less than $25,000 or $32,000, their social security will not be taxable.  In addition, the $1000 is not taxable since it is less than the standard deduction, as long as they don't have other income, and aren't filing MFS. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies