topic Retirement in Retirement tax questions

Retirement

Timothy0 — Thu, 15 Jul 2021 20:20:56 GMT

Do I need to file a tax return when I am retired?

Re: Retirement

xmasbaby0 — Thu, 15 Jul 2021 20:24:11 GMT

Maybe. You have not told us what kind of income you have. If your ONLY income is Social Security then you do not have to file a tax return. If you have other income in addition to Social Security you might need to file.

You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

Who has to file?

http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

Re: Retirement

drc845443 — Thu, 15 Jul 2021 20:39:14 GMT

You are required to file an income tax return if your income is above the threshold for filing, even if you are retired.

The threshold for filing income tax returns are updated every year. You may find the link below informative:

https://turbotax.intuit.com/tax-tips/irs-tax-return/does-everyone-need-to-file-an-income-tax-return/L7pluHkoW

The IRS provides a tool for determining whether you need to file depending on your specific circumstances. You can check your situation using this tool at the end of each year.

Here is the link to the tool:

https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return