question.jpgIn Federal Income Tax

Do I have to file a tax return if I am retired?

Again, if you meet the minimum gross income threshold ($7950 for a single taxpayer, $15,900 for married couples) you will have to file a return. In fact, Social Security benefits are taxed, though at a lower rate. Moreover, if you are married, you must combine your spouse’s income with your own to determine the taxable portion of your benefits. You will also have to pay taxes on tax-free retirement plan distributions.