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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35309
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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I MADE 19,162 WITH MY SS IN 2015 PLUS 1,271 ON HORSE RACING

Customer Question

I MADE 19,162 WITH MY SS IN 2015 PLUS 1,271 ON HORSE RACING BETS THAT IS ALL MY INCOME FOR 2015 DO I HAVE TO FILE AT ALL.
Submitted: 10 months ago.
Category: Social Security
Expert:  LawTalk replied 10 months ago.

Good afternoon Tony,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.

Yes, you will have to file your 2015 income tax return because you earned more than the threshold amount of $10,150.00.

However, because only 1/2 of your social security benefits are counted as income for tax purposes, and because you earned less than $25,000 total for the year, you will not have to pay any taxes on the income that you did receive. But yes, you still must file a return.

If you paid any income tax at all in 2015 you may be entitled to a refund as well.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best in 2016,

Doug