Simple answer: Yes.
The explanation (like all tax issues) may not be so simple. Since you are a dependent on someone else's return, you are only allowed a standard deduction of $1050* and no personal exemption. So, with $2460 of pension income, you will have $1410 of taxable income (2460-1050=1410). None of your social security will be taxable or reportable (see more explanation below). You will owe $141 federal tax.
Social security only
becomes taxable when added to sufficient other income. If you are
otherwise required to file a tax return, you do need to enter it in Turbotax
(TT). TT will determine the taxable portion.
Social security (including SS disability income) becomes taxable when your income,
including 1/2 your social security, reaches:
Married Filing Jointly(MFJ): $32,000
Single or head of household: $25,000 (including dependents)
Married Filing Separately and lived with your spouse at any
time during the tax year: $0
After TurboTax (TT)
calculates the taxable portion of SS, it puts the total amount of SS on line
20a of form 1040 and the taxable amount on line 20b (lines 14a&b of form
1040A). TT also produces a worksheet to
show how the taxable amount is calculated. Although most people pay tax on 85%
of their SS. it can be less for lower income taxpayers; 0 in your case.
*For 2018, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,050 or the sum of $350 and the individual’s earned income (not to exceed $12,000). Pension income is not normally considered earned income. However, if the pension income is classified as disability income (code 3 in box 7 of the 1099-R or you received a W-2), and you have not reached your employer's minimum retirement age, the income is earned income and you do not have to file a tax return.
