Filing Requirements

dtabbert8
dtabbert8 Member Posts: 1 Newcomer
edited January 2024 in Filing my taxes

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

  • CarleneF
    CarleneF FreeTaxUSA Agent Posts: 30

    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: https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return

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