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posted Oct 15, 2023 7:20:28 PM

What is the income limit for a senior citizen living on social security that does not require filing income taxes??

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1 Best answer
Level 15
Oct 15, 2023 8:03:01 PM

If Social Security benefits are your only income for the year you are not required to file a tax return, unless you received advance premium tax credit for health insurance from the Marketplace ("Obamacare"), or you took money out of a Health Savings Account (HSA) or Medical Savings Account (MSA).


You can use the calculator at the following link on the IRS web site to see if you have to file a tax return.


Do I Need to File a Tax Return?

 

2 Replies
Level 15
Oct 15, 2023 7:28:54 PM

@mmsj55 - for federal, it's income (excluding social security) less than the standard deduction.

 

filing Single (2023): $15,700

Filing Joint (2023): $30,700

 

your state rules may be different 

 

 

Level 15
Oct 15, 2023 8:03:01 PM

If Social Security benefits are your only income for the year you are not required to file a tax return, unless you received advance premium tax credit for health insurance from the Marketplace ("Obamacare"), or you took money out of a Health Savings Account (HSA) or Medical Savings Account (MSA).


You can use the calculator at the following link on the IRS web site to see if you have to file a tax return.


Do I Need to File a Tax Return?