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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29657
Experience:  Taxes, Immigration, Labor Relations
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What is the minumum income that needs to be taxed

Resolved Question:

What is the minumum income that needs to be taxed
Submitted: 6 years ago.
Category: Tax
Expert:  Lev replied 6 years ago.


Hi and welcome to Just Answer!


First of all - we need to determine if any of your social security benefits are taxable - here is a simple test - take half of your social security benefits plus other taxable income - if the total is less than $25,000 (for singles) - none of your social security benefits is taxable. Thus your only taxable income is $14,000 (other income besides social security benefits).


There are filing requirements – please see for reference IRS publication 501 – page 3 - 2010 Filing Requirements Chart for Most Taxpayers -

Thus, if you are single and below 65 – you generally must file your tax return if your taxable income is above $9350. So because your taxable income is $14,000 - you are required to file.


Thank you very much. That is all I need to know

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