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