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This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

I am a senior citizen and also have non-taxable social security.
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This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

You say that your Social Security is "non-taxable."  That will depend on how much other income you received including the unemployment compensation, which is taxable income.  The additional income could make some of your Social Security taxable.  

 

TAX ON SOCIAL SECURITY

Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.

 

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2017 that limit was $16,920 —for 2018 it will be $17,040—for 2019 it will be $17,640— for 2020 it will be $18,240)  After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2020 Form 1040

 

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

 

 

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment

You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT TAX UNEMPLOYMENT BENEFITS

 

AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment.  You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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4 Replies

This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

If you qualify  AND   if you wait until mid January  THEN you can use one of  the 10 IRS FREE FILE options to file a fed & state return for free ... but you must be patient.    https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

IRS Free File: Closed until January 2021

 

IRS Free File is closed for the 2020 tax season. Check back in January for Filing Season 2021 opening details.

For Filing Season 2021, you must make $72,000 or below to use IRS Free File partner offers.

 

This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

You say that your Social Security is "non-taxable."  That will depend on how much other income you received including the unemployment compensation, which is taxable income.  The additional income could make some of your Social Security taxable.  

 

TAX ON SOCIAL SECURITY

Up to 85% of your Social Security benefits can be taxable on your federal tax return.  There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits.  When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.

 

 What confuses people about this is that before you reach full retirement age, if you continue working while drawing SS, your benefits can be reduced if you earn over a certain limit. (For 2017 that limit was $16,920 —for 2018 it will be $17,040—for 2019 it will be $17,640— for 2020 it will be $18,240)  After full retirement age, no matter how much you continue to earn, your benefits are not reduced by your earnings; your employer will still have to withhold for Social Security and Medicare.

To see how much of your Social Security was taxable, look at lines 6a and 6b of your 2020 Form 1040

 

https://ttlc.intuit.com/questions/1899144-is-my-social-security-income-taxable

 

 

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment

You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT TAX UNEMPLOYMENT BENEFITS

 

AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment.  You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

Cool! I'll be safely under 72k. Thx for the linx.

This year my rideshare had expenses, no income. I received PUA. I also went back to school and received Pell $. I normally use free version. Will free TT handle this?

That is a super cala fraga listic awesome response!

 

I am in non-taxable NV, my SS is disability (around 30k) and my PUA is ~ 18,159. I am still a few pegs shy of full retirement age.  I have seen mention (on the internet) that PUA for the disabled does not count as income?

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