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Oneill474 · Mar 13, 2008, 05:40 AM

One senior receives $26,000 married filing joinly. The wife has no income.
Of the $26,000 only $11,000 is taxable pension, the rest is social security. If he
Wanted to itemized he would have $5,000 mortgage interest/3 exemptions (son also over 18) filing joinly is $17,500

But what is the point? There are no w2 forms. Nobody in the household works.

I don't understand this concept for filing: IRS Rule

You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive.

For example, a married couple both under age 65 generally is not required to file until their joint income reaches $17,500. However self-employed individuals generally must file a tax return if their net income from self employment was at least $400.

Check the “individuals” section of the IRS Web site at IRS.gov or consult the instructions for form 1040, 1040A or 1040EZ for specific details that may affect your need to file a tax return with IRS this year.

charlotte234s · Mar 13, 2008, 05:56 AM

The senior citizens have a child under 18?

Fr_Chuck · Mar 13, 2008, 06:25 AM

What is the problem with that? I will be over 65 with a child at home under 18, It is called being frisky or first wife dying and getting married to a much younger wife.

I am sure that others will voice in, but I believe you are to file if your income is over certail levels, so if they have 11000 in taxable income it has to be reported, ( by law) so the point is they have to because they have a legal duty to do it.

In their case, they have the deductions to 0 out the taxable income, but the IRS dos not know they have those deductions unless they file.

If they did not have the deductions, they may actually owe taxes.

charlotte234s · Mar 13, 2008, 07:14 AM

Haha I suppose it's a good thing actually, just not very common! =)

ebaines · Mar 13, 2008, 08:34 AM

Originally Posted by Oneill474

But what is the point? there are no w2 forms. nobody in the household works.

I don't understand this concept for filing

Please clarify yourr question. Are you asking whether this couple needs to file taxes? Or are you asking whether they should itemize deductoins versus claim the standard deduction?