Do you have to file taxes if your retirement is your only income?

Question

CALpers is the only source of income and they don't get a SS

Answer 1

If your only income is SS you are not required to file.  If you have SS and other sources of income then the amount of your income will determine if you need to file or not.

Answer 2

What kind of retirement income?

If you are single and your only income is SSA benefits, you do not have a filing requirement.  If you have a pension or money coming from an IRA, you would have a filing requirement as soon as the income (without including the SSA) is more than $10,000.

Answer 3

yes of course.

Answer 4

Depends upon the source of your retirement income.  More details are needed.

If it's only Social Security then you don't need to file.  If it's from some other source then it's based upon your total income and filing status.

Answer 5

If it is over a certain amount of money (I think $5000 but don't quote me on that) then yes you do.  However, you should file this year anyway because you may be entitled to a stimulus check... you will not get one if you do not file taxes.

Answer 6

Most pension benefits (including CalPERS)  are at least partially taxable.  Your pension fund will issue you a 1099R showing the distribution.  The 1099R will also show the taxable amount, or will have other data that will allow the taxable amount to be figured.

So yes you will have to file taxes based on the same filing criteria as anyone else.

Answer 7

yes, you have to file.  tba