New Form 1040

Level 15

Feb 12, 2019 4:42:48 AM

just let TT guide you ; trust its results

if your sole source of income is that $10k SS payment, why are you filing a tax return?

please read this link.

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

For 2018, all taxpayers are eligible to claim a standard deduction, and if not the dependent of another taxpayer. The standard tax deduction amounts are fixed by the government before the tax filing season and generally increase for inflation each year.

Your income that is equal to or less than the standard deduction is not taxable, the IRS doesn't require you to file a return in years your income doesn't exceed that sum

Returning Member

Feb 12, 2019 6:03:08 PM

Thanks for your help, NCperson. I do not focus whether I should file tax return or not. My concern remains 1) as a single (no dependent), if my sole source of income is $10K SSA benefit, what number should I enter into Form 1040 line “5b” (taxable social security benefit) ?

2) if $10k SSA payment is my ONLY source of income + I do NOT have any adjustments, what will be my Federal AGI (adjusted Gross Income) ?

Thanks again

Level 15

Feb 12, 2019 6:27:56 PM

1) please refer to the worksheet on Page 4 of the link below

https://www.irs.gov/pub/irs-pdf/p915.pdf

once completed, you can determine the answer to your 2nd question.......

2) please see line 7 of Form 1040. AGI = 'adjusted gross income'

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New Form 1040