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hawktrujillo11
New Member

What amount is a reportable income? I worked part time last year and made $2,400 in the year? Do I have to report it?

 
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MichaelDC
New Member

What amount is a reportable income? I worked part time last year and made $2,400 in the year? Do I have to report it?

No. If that's all the income you have, you don't have to file. However, you may want to in order to get a refund. There may be other credits that you may also qualify for if you file (Earned Income Credit and American Opportunity Credit).

For your info, here's the rest of the rules:

The Gross income requirements for each filing status (If your income is below these, you don't need to file.)

  • Single: $10,400 if under age 65. $11,950 if 65 and older.
  • Married filing jointly: $20,800 if both under 65. ...
  • Married filing separately -- $4,050 at any age.
  • Qualifying widow(er) with a dependent child: $16,750 if under 65. ...
  • Head of household: $13,400 if under 65.

The IRS increases the standard deduction amount for taxpayers who are 65 or older by the end of the tax year. If your 65th birthday falls on January 1, you can take the larger standard deduction for the prior tax year since the IRS treats you as being 65 on December 31

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1 Reply
MichaelDC
New Member

What amount is a reportable income? I worked part time last year and made $2,400 in the year? Do I have to report it?

No. If that's all the income you have, you don't have to file. However, you may want to in order to get a refund. There may be other credits that you may also qualify for if you file (Earned Income Credit and American Opportunity Credit).

For your info, here's the rest of the rules:

The Gross income requirements for each filing status (If your income is below these, you don't need to file.)

  • Single: $10,400 if under age 65. $11,950 if 65 and older.
  • Married filing jointly: $20,800 if both under 65. ...
  • Married filing separately -- $4,050 at any age.
  • Qualifying widow(er) with a dependent child: $16,750 if under 65. ...
  • Head of household: $13,400 if under 65.

The IRS increases the standard deduction amount for taxpayers who are 65 or older by the end of the tax year. If your 65th birthday falls on January 1, you can take the larger standard deduction for the prior tax year since the IRS treats you as being 65 on December 31

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