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joelchn
New Member

Retired. Do we file Taxes? SS only+$1000

We are on SS.  This year I am 70 and must get min $1000 from retirement.  Do I still have to file taxes.  What is the Min. income limit including SS one must file.

3 Replies
Hal_Al
Level 15

Retired. Do we file Taxes? SS only+$1000

No.

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 SSDI) 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

Married Filing Separately and lived with your spouse at any time during the tax year: $0

How much  is "sufficient other income"? The simple answer is $10,150 (a single person's filing requirement). 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.

Sufficient Income sample calculation https://ttlc.intuit.com/questions/3373957-will-we-have-to-pay

SweetieJean
Level 15

Retired. Do we file Taxes? SS only+$1000

State taxes may be different.
VolvoGirl
Level 15

Retired. Do we file Taxes? SS only+$1000

What do you mean must get min 1,000?  Is that per month or total for the year?  You mean the RMD (required min distribution) from an IRA or 401k plan?

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