How much can a 82 year old earn before paying tax?

Answer 1

The answer will depend on your filing status and type of income.

If you have any rental income you would be required to file a 1040 tax form along with the schedule E to report your gross rental income and expenses.

A self employed taxpayer would be required to file an income tax return if business operation had a net profit of 400 and pay the social security and Medicare taxes that would be due plus any income tax that may be due after adding the net profit to all other gross income on the 1040 tax form and the amounts would be subject to income tax at the marginal tax rates.

A dependent on another taxpayer income tax return with unearned income interest, dividends, capital gains, rental income, taxable social security benefits, unemployment compensation, gambling winning and misc income, etc of more than 950 must file an income tax return and report all worldwide income on the 1040 tax return

The must file an income tax return requirement for the year 2009 would be in the 2009 1040 instruction book starting on page 7 through 9 and the book is available at the enclosed web site.

Go to the IRS gov web site and use the search box for 1040 and choose instruction

Filing Requirements

Do You Have To File

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