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Marvin,EA, Enrolled Agent
Category: Tax
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Experience:  Enrolled to Represent Taxpayers Before The IRS
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My parents have received appx $16,000 in a court settlement,

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My parents have received appx $16,000 in a court settlement, they are on Social Security, do they need to file a tax return for this. Their income is currently so low, that they have not filed for several years.
Submitted: 7 years ago.
Category: Tax
Expert:  Marvin,EA replied 7 years ago.
Hello and thanks you for using Just Answer. If your parents total taxable income is less than $20,000 and their total Social Security benefits is less than $30,000 no federal tax is due on the $16,000 they received from the settlement.
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