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June 1, 2019
Question

Im 68 years old do I have to claim my pension on my taxes

  • June 1, 2019
  • 1 reply
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1 reply

Employee
June 1, 2019

Yes, if your income is over the filing requirement.

There is no age when you stop paying taxes. As long as you have taxable income, you are taxed. There is an increased standard deduction for persons over age 65 and/or blind.

Single 

  • Under 65 $12,000
  • 65 or older $13,600

Married filing jointly

  • Under 65 (both spouses) $24,000
  •  65 or older (one spouse) $25,300
  •  65 or older (both spouses) $26,600

Married filing separately

  • Any age $5

Head of household 

  • Under 65 $18,000
  •  65 or older $19,600

Qualifying widow(er) with dependent child

  • Under 65 $24,000
  •  65 or older $25,300