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Cassandra, Tax Preparer
Category: Tax
Satisfied Customers: 306
Experience:  8yrs experience in taxation for individuals. CTEC Registered and an Authorized E-filer with the IRS
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What is the maximum taxable income for a senior citizen before

Resolved Question:

What is the maximum taxable income for a senior citizen before I am liable to be taxed?
Submitted: 8 years ago.
Category: Tax
Expert:  Cassandra replied 8 years ago.
Hello John and welcome to just answer.

As I am not sure if you are talking about social security wages or earned income, so I will give you some information on both.

In order for social security to be taxable and you have no other income these are the amounts you would need to stay at or under in order for it not to be taxable.

If you are talking about earned income. and you are single then you can deduct $5450 standard deduction and 3500 personal exemption. A total of $8950, or your earned income is not taxed on.

Your situation may be more complilcated, let me know and I will try to help.

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