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December 21, 2024
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Is there any thing to do now that I'm retired?

  • December 21, 2024
  • 1 reply
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    Best answer by xmasbaby0

    Maybe---you have not mentioned what income you have now that you are retired.   If Social Security is your only income, then you are not required to file a tax return unless you have a 1095A for marketplace health insurance.  But if you have other sorts of income like investment income, pension income, distributions from retirement accounts, rental income, etc. you might need to file a tax return.

     

     

    You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

     

    Who has to file?

    http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

     

    1 reply

    xmasbaby0Answer
    Employee
    December 21, 2024

    Maybe---you have not mentioned what income you have now that you are retired.   If Social Security is your only income, then you are not required to file a tax return unless you have a 1095A for marketplace health insurance.  But if you have other sorts of income like investment income, pension income, distributions from retirement accounts, rental income, etc. you might need to file a tax return.

     

     

    You need to file a federal return if half your Social Security plus your other income is $25,000 when filing single or head of household, or $32,000 when filing married filing jointly, $0 if you are filing married filing separately.

     

    Who has to file?

    http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**