https://ttlc.intuit.com/community/retirement/discussion/what-is-the-current-amount-over-my-social-security-benefits-that-i-can-be-taxed-on-i-am-69-70-at-the/01/288539#M24680 <P>my only income, in 2017, is social security...about $2k/month.&nbsp; do I need to file income tax this year? how much rental income can I receive, in 2018, before any income tax is assessed?<BR /></P> Mon, 03 Jun 2019 17:41:58 GMT Benny-88 2019-06-03T17:41:58Z https://ttlc.intuit.com/community/retirement/discussion/what-is-the-current-amount-over-my-social-security-benefits-that-i-can-be-taxed-on-i-am-69-70-at-the/01/288539#M24680 <P>my only income, in 2017, is social security...about $2k/month.&nbsp; do I need to file income tax this year? how much rental income can I receive, in 2018, before any income tax is assessed?<BR /></P> Mon, 03 Jun 2019 17:41:58 GMT https://ttlc.intuit.com/community/retirement/discussion/what-is-the-current-amount-over-my-social-security-benefits-that-i-can-be-taxed-on-i-am-69-70-at-the/01/288539#M24680 Benny-88 2019-06-03T17:41:58Z https://ttlc.intuit.com/community/retirement/discussion/up-to-85-of-your-social-security-can-be-taxable-dependin/01/288564#M24683 <P>Up to 85% of your social security can be taxable depending on your complete situation.&nbsp; If your ONLY income is $24,000 a year with social security and you are NOT married filing separate then it generally would not be taxed.&nbsp;&nbsp;</P><P>However, you mention rental income, if you have rental income this could change everything. If you are single and had less than $13,000 rental and all other income while receiving $24,000 in SS benefits, then you would not be taxed on your Social Security.&nbsp; Below are the base amounts for other filing statuses.&nbsp;</P><P>"To find out whether any of your benefits may be taxable, compare the base amount for your filing status with the total of:</P><UL> <LI>One-half of your benefits; plus</LI> <LI>All of your other income, including tax-exempt interest.</LI> </UL><P>The base amount for your filing status is:</P><UL> <LI>$25,000 if you're single, head of household, or qualifying widow(er),</LI> <LI>$25,000 if you're married filing separately and lived apart from your spouse for the entire year,</LI> <LI>$32,000 if you're married filing jointly,</LI> <LI>$0 if you're married filing separately and lived with your spouse at any time during the tax year."&nbsp;&nbsp;<A href="https://www.irs.gov/faqs/social-security-income/regular-disability-benefits/regular-disability-benefits" rel="nofollow" target="_blank">https://www.irs.gov/faqs/social-security-income/regular-disability-benefits/regular-disability-benef...</A> </LI> </UL> Mon, 03 Jun 2019 17:41:59 GMT https://ttlc.intuit.com/community/retirement/discussion/up-to-85-of-your-social-security-can-be-taxable-dependin/01/288564#M24683 Vanessa 2019-06-03T17:41:59Z