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Is Social Security factored in?

 

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Subject Author Date
Is Social Security factored in? bulldogspin 03-15-2008
Posted by bulldogspin on March 15, 2008, 2:45 pm
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The requirement for a person over 65 and single to file a tax return
is $10,050. If he has $10,000 in gross income plus another $3,600 in
Social Security income (benefits) does he have to file a tax return?
Please confirm - the $3,600 Social Security income is not taxable when
calculated using the worksheet with $25,000 as the base for single
over 65 years?

Thank you.

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Posted by Condor on March 15, 2008, 3:28 pm
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> The requirement for a person over 65 and single to file a tax return
> is $10,050. If he has $10,000 in gross income plus another $3,600 in
> Social Security income (benefits) does he have to file a tax return?
> Please confirm - the $3,600 Social Security income is not taxable when
> calculated using the worksheet with $25,000 as the base for single
> over 65 years?

No filing requirement for the scenario indicated above. However, he should
file a "Stimulus-Only" tax return to be eligible for his $300 stimulus
check. He also should file for a refund if any income tax was withheld.


Condor

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Phil Marti on March 15, 2008, 6:28 pm
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> The requirement for a person over 65 and single to file a tax return
> is $10,050. If he has $10,000 in gross income plus another $3,600 in
> Social Security income (benefits) does he have to file a tax return?

Social Security benefits are never part of gross income considered regarding
whether a return must be filed. There's no need to do the line 20
worksheet. See the 1040 instructions.
--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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