Have a Tax Question? Ask a Tax Expert
Hello and thank you for using Just Answer,If you are still working then that is earned income and taxable. Investment income is unearned and also added to your earned income for tax. For Arizona taxpayers; if you are Single, Married Filing Separately or Head of Household and your Arizona Adjusted Gross Income (AAGI) is at least $5,500 or your Gross Income (GI) is at least $15,000 you must file. Your income would include wages and investment income, as well as interest form bank accounts. If you sale stock the gain or profit from the sale is taxable. Arizona has no special treatment for capital gains. Capital gains included in your federal adjusted gross income are included in your Arizona gross income and are taxed at your regular tax rate.
If all your income added is $1800 then that means you have $21600 for the year. if all that is from taxable income discussed above, you would need to file a state return.
You would only be taxed on the amount left over after your exemptions and deductions not the total.
I estimate your tax liability for Arizona will be $1170
If you have state taxes withheld then the total of your withholding would be subtracted from the tax laibility. If you have more in withholding you would receive a refund form the state.
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That tax liability of $1170 is not for Arizona (so sorry) that is the federal estimate. Your Arizona would be $397.
So sorry about that. I estimated both fed and state for you thinking you would probably ask about fed too. SO to clarify. If the $1800 a month you receive is from taxable income your Arizona tax would be $397 and your Federal tax would be $1170. Of course, any withholding would count against those amounts.
Please let me know by responding if you need more info.