Ask Experts Questions for FREE Help !
Ask
    mckinney432's Avatar
    mckinney432 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 1, 2008, 08:59 AM
    Interest income
    I am 80 years old, drawing Social Security, how much interest income can I receive before I have to file a tax return?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 2, 2008, 12:13 AM
    How much do you draw in Social Security annually?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Feb 2, 2008, 03:44 AM
    For single over 65, the filing requirement starts with income over $10,050.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 3, 2008, 06:23 PM
    That is good generally, but to give an exact answer, we need to know how much he made.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Interest Income for Non-resident NY taxes [ 1 Answers ]

Hi, I am filing NY non-resident tax return. I have some interest income from a bank located in NY. Do I count it as a part of NY state income , or exclude it for calculating N state tax? Will this be same for NJ and MD also, as I've lived for parts of the year in these two states (but...

F1 to H1, interest income [ 1 Answers ]

Hi, I was on F-1 till sep 30, 2006 and then my status changed to H1-B. I received some interest when I was on F-1 and some when I was on H1. Do I need to show all this interest as interest income for federal and state tax purposes, or only the interest I earned after going on H-1 status ( I...

W2-C, Interest Income on Refund for 2005 [ 1 Answers ]

Hello: For the 2005 tax year, my employer erroneously withheld social security and medicare taxes in excess of the actual amount I owed. This was due to my being on OPT and then moving to an H1-B. I filed form 843 in 2006 along with form 1040NR-EZ and got my refund from IRS for that amount....

Income Tax on Social Security & Interest Income [ 1 Answers ]

I collect SS, withdraw interest income monthly and sell real estate. I am wondering since my interest income & real estate commissions exceed the SS allowable income cap of $12,000 will my SS for the next year be reduced? Will my real estate expenses be deductible from taxes owed on my...

Reporting interest income on 1040NR-EZ [ 3 Answers ]

Hi ATE, I have read most of tax related topics in this forum and I feel this is a very helpful forum. I need your advise on my status: I was a student until April-2005 (Originally I came on F-1 status in Aug-01), my OPT was started in May-05 and I got job in August-05, my H1-B start date is...

View more questions Search