Income Tax?

Question

Does a person who only draws Social Security have to file income taxes? What is the poverty line?

Answer 1

If a person has absolutely no other income from anywhere else, they probably don't owe income taxes. However, this year, if a person had long distance service on their phone and paid excise taxes, they can file for a refund of that. It's about $30, but every little bit helps.

If you go to the irs web site, www.irs.gov, and pull up Publication 17, there's a worksheet in there that you can print out and go over, to see if you have to file.

Most people who have Social Security income also have wages or interest or some other kind of income coming in, and will have to file to report that, and sometimes a portion of their Social Security is taxable because of it.

Good luck with it. You can also visit a local H & R Block office and have one of the preparers there check it for you. They don't mind doing that, and right now is a slow time for them, anyway. Trust me, we were pitifully slow in our office, today.

Answer 2

If your only income is social security, you don't have to pay taxes. The limit at which you have to file depends on your filing status and on your age. The limit is not related to the federal poverty line.

For single, under age 65, not a dependent, limit to be required to file is $8450. For single, 65 and over, it's $9700. On a joint return, limit if both are under 65 is $16,900; if one person is 65 or over, limit is $17,900; if both are 65 or over, limit is $18,900. These all are for returns that don't have $400 or more of self-employment income.

There are other limits for other filing statuses, or for income from self-employment.