I hav no other entry of money except my retirement check
2006-09-27 06:56:44 · 9 answers · asked by frnhdl@sbcglobal.net 1 in Business & Finance ➔ Taxes ➔ United States
You have to file a tax form no matter how much you make but you likely won't owe any taxes. If you go to the source link below and choose 'Tax Estimator' from the Tax Tips list, you can enter your various details and see an estimate of what your taxes would look like.
2006-09-27 07:07:47 · answer #1 · answered by nativeAZ 5 · 1⤊ 0⤋
If you are filing as Single status
You can make $9450 per year and not have to file tax.
Other filing status has higher limit, except for Married filing separate.
Assuming that you are single, looks like you will have to file this year.
Depending on where the retirement check is coming from (whether IRA, Roth IRA, social security, pensions) the tax treatment might be different.
2006-09-27 14:09:01 · answer #2 · answered by JQT 6 · 1⤊ 0⤋
You have to file income tax return on your retirement income. Given the normal exemption, and if you have no other income, you will fall below the taxable threshhold, and owe no tax.
2006-09-27 13:59:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, your income exceeds the minimum required to file a return. If you have other expenses, you may still offset the income and have no tax bill, but you are required to file a return regardless.
If you need assistance feel free to contact me: http://www.slarson.com/contact or steve@slarson.com
Regards,
Steve Larson
2006-09-27 16:17:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You don't get social security? Are you married? Are you over 65? All of these questions have a bearing on the correct answer.
2006-09-27 14:29:16 · answer #5 · answered by Italian girl 4 · 1⤊ 0⤋
Depends on whether you're single, or married filing jointly, and whether you're over 65. If you're married filing jointly, you would not owe any tax, and would not be required to file.
2006-09-27 23:07:11 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
Go To: http://www.irs.gov/individuals/retirees/index.html
2006-09-27 15:35:28 · answer #7 · answered by littlebettycrocker 4 · 0⤊ 0⤋
you can call your local tax office and they should tell you and you can call 1800askgove or go online www.ask.gov
2006-09-27 14:01:36 · answer #8 · answered by joyoflove2003 1 · 0⤊ 0⤋
aslong as you dont make too much
2006-09-27 13:59:55 · answer #9 · answered by besos 4 · 0⤊ 0⤋