When to Stop Filing Taxes: Social Security

When Seniors Must File

For tax year 2019, you will need to file a return if:

  • you are unmarried,
  • at least 65 years of age, and
  • your gross income is $13,850 or more.

However, if you live on Social Security benefits, you don’t include this in gross income. If this is the only income you receive, then your gross income equals zero, and you don’t have to file a federal income tax return.

But if you do earn other income that is not tax-exempt, then each year you must determine whether the total exceeds $13,850.

  • For tax years prior to the 2018 tax year (filed in 2019), these amounts are based on the year’s standard deduction plus the exemption amount for your age and filing status.
  • Beginning in 2018, only your standard deduction is used since exemptions are no longer part of calculating your taxable income under the new tax law passed in late 2017.

For the 2019 tax year,

  • If you are married and file a joint return with a spouse who is also 65 or older, you must file a return if your combined gross income is $27,000 or more.
  • If your spouse is under 65 years old, then the threshold amount decreases to…

This article was sourced from The Street.

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