Filing Requirements
dtabbert8
Member Posts: 1 Newcomer
Hi, I'm 60 years old, single and made less than $2K income this year. I have received a total of approximately $10K in taxable investment disributions and interest payments. Will I need to file a tax return for this year? Is there a threshold on distributions that puts a person into the 'need to file' category even though their income is less than the $12,950 thresh hold?
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Answers
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Generally, if your adjusted gross income is under that 12,950 threshold and you're filing as single, then you would not need to file a tax return. However, if you have $400 or more of self-employment income. then you would need to file a return.
You can use this tool from the IRS to help you decide if you need to file:
