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yellowbird3535
New Member

We only receive SS as income and receive required minimum distribution fro IRA. Do we have to file income tax for 2020 and 2021?

 
3 Replies
VolvoGirl
Level 15

We only receive SS as income and receive required minimum distribution fro IRA. Do we have to file income tax for 2020 and 2021?

Maybe.   Depends how much is the RMD.  If your RMD is a lot part of your Social Security may be taxable.  And you want to file to get back any withholding from the RMD.

 

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

 

Do you need to file a return?

https://ttlc.intuit.com/community/filing-and-paying-taxes/help/do-i-need-to-file-a-federal-return-th...

 

 

 

 

rjs
Level 15
Level 15

We only receive SS as income and receive required minimum distribution fro IRA. Do we have to file income tax for 2020 and 2021?

Whether you have to file depends on the amount of your RMDs and other factors. You can use the calculator at the following link on the IRS web site to see if you have to file a tax return for 2020. The calculator will be updated for 2021 when filing for 2021 begins in January.


Do I Need to File a Tax Return?

 

DoninGA
Level 15

We only receive SS as income and receive required minimum distribution fro IRA. Do we have to file income tax for 2020 and 2021?

If you are filing as Married Filing Jointly, then if the IRA distribution plus 1/2 of your SS benefits is $32,000 or greater would you have to file a tax return.

 

To enter Social Security benefits reported on form SSA-1099

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On Social Security (SSA-1099, RRB-1099), click the start or update button

Or enter ssa-1099 in the Search box located in the upper right of the program screen. Click on Jump to ssa-1099

 

Up to 85% of Social Security Retirement/Disability/Survivors benefits becomes taxable when all your other income plus 1/2 your social security reaches:

Married Filing Jointly - $32,000
Single or Head of Household - $25,000
Married Filing Separately - 0

 

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