In the state of Florida, what is the limit of "unearned income" money you can make in a year without having to file taxes on it?
Thanks!
2007-08-08 13:17:35 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
FL has no income tax. The Federal limit for unearned income before you must file a tax return is $850.
2007-08-08 17:37:23 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Florida itself has no state income tax, therefore they don't tax unearned income. They used to have an "Intangibles Tax" which taxed the value of certain assets that you had on 1/1 of each year.
2007-08-08 14:44:18 · answer #2 · answered by Anonymous · 2⤊ 0⤋
It is too vague a question. What is your other income. Unearned income is usually interest on a bank account. You'll normally get a statement for anything over $20.00.
You have to report it and it adds to your other income.
2007-08-08 13:34:03 · answer #3 · answered by Tim 7 · 0⤊ 2⤋