Senior citizens on social security
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.