Income tax question?

Question

Is there a cutoff age that we don't have to file a tax return? Are pension benefits and social security income reportable and for how long? Thanks.

Answer 1

No, there isn't a cutoff age where you don't have to file. It depends on your income. There is a limit that depends on your filing status where if your income (not counting social security) is below the limit, you don't have to file a return. If you are over that limit, you have to report all pension benefits. Social security only has to be reported if some of it is taxable - this too depends on your total income.

Answer 2

There is no age above which you no longer have to file a tax return.

Pension benefits are generally taxable income. If your pension benefits are more than the filing requirements, you will have to file a tax return. The payor of the pension always reports the payments to the IRS.

Social Security can figure into your tax return if your other income is high enough. You enter your Social Security benefits into your tax return and if your other income is high enough, then some of your Social Security benefits is included in your taxable income.

Answer 3

Your age has nothing to do with whether or not you must file an income tax return. For specific information on the reportability/taxability of retirement benefits, see the links below.