Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 6 months ago

Does non-taxable income count toward the $12,000 threshold for a f1040?

4 Answers

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  • 6 months ago

    Go for the obvious on this one.

  • Babe
    Lv 7
    6 months ago

    Non-taxable income generally will not affect your taxable income or cause you to need to file a tax return.  

    But you can go to IRS.gov/Where's my refund? and  follow the instructions for filing a $0 income return for the next stimulus check.  Add your bank account info for direct deposit. 

    But hurry.  Congress is getting close to deciding what to do.  Then IRS will start cranking out payments.

  • Anonymous
    6 months ago

    Generally no.  However, it can make SSA benefits taxable, which can push one into a filing requirement.

  • 6 months ago

    $12000 "threshold"

    You mean the standard deduction = no.

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