Do I have to file my taxes this year?

Run this IRS app

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

Possibly.  If your taxable income is more than $15,700 (if you are single over 65, $13,850 if you are under 65 and single), you would need to file a tax return.  You would add your pension to the taxable portion of your SS to determine if your income is over your standard deduction. 

 

Not all of your social security is taxed.  However, depending on your situation, up to 85% of it is taxed.  

 

If you fall into the following, 85% of your social security is taxable income

• Single with income above $34,000
• Married Filing Jointly with income above $44,000
• Married Filing Separate regardless of income

If you fall into the following, 50% of your social security is taxable income

• Single with combined income between $25,000-$34,000
• Married Filing Jointly with combined income between $32,000 and $44,000

Your combined income is calculated by adding your

• AGI plus
• Nontaxable Interest plus
• 1/2 of your social security Benefits

Social Security Benefits Taxes

It depends on the amount of other income you will be entering on the tax return besides the SS benefits reported on a 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

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $13,850 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older