1040sr for Seniors. Step by Step Walkthrough of Senior Tax Return 1040SR. New IRS Form 1040-SR

How to fill out 1040sr for Seniors. Married Filing Jointly. Step by Step Walkthrough of NEW Senior
2021 is close to 2020
Tax Return 1040SR. New IRS Form 1040-SR
1040SR is for taxpayers 65 years old or older
New Simplified tax return.. 1040 SR replaces 1040EZ
1-800-Tax-Form Call to get a 1040SR sent to you.
www.irs.gov/pub/irs-pdf/f1040...
1040SR Seniors Tax Return video log:
00:34 How to find 1040SR at IRS.gov
00:50 1040SR pdf version
01:04 Where to find 1040sr form
01:30 1040SR Married Filing Jointly
02:40 Age/Blindness for Standard Deduction
03:07 Example of 1 spouse over 65
03:30 Form 1099R
04:15 Pensions on 1040SR
04:35 Form SSA for Social Security
04:58 Social Security on 1040SR
05:14 Is your SS benefits taxable
05:45 Calculations for Taxable SS benefits
06:30 Total income on Form 1040-SR
06:54 Determine Standard Deduction on 1040sr
07:11 Married Filing Jointly 1 over 65
07:36 2 persons over 65 Standard Deduction
08:33 Taxable income for 1040SR
09:00 1040-SR Page 2
09:21 Amount you owe Line 23 of 1040sr
Katie St Ores has also done other Form W-4 related videos:
W4 vs W2 What's the difference
W4 IRS Form W-4 Explained
IRS Form W2 explained
How to replace missing W2
How to pay your taxes to the IRS
Employee's Withholding Certificate
How to file a W4 Employee's Withholding Certificate form can be confusing. We hope these videos on W4's and W2's are helpful in completing these new IRS Forms. Remember, only steps 1 & 5 are required when filling out Form w4. Two more Form w 4 videos are to be completed soon. First, How to file a W4 Form and How to complete a W-4 form using the W4 Form Estimator. These will be in the new How to File form W4 Playlist.
Good luck and Thanks again...
Note: Please understand that these videos are for EDUCATIONAL purposes only and are very general.. All people and their financial situations are different. So it is important to consult your tax or financial professional.
_________________________________________________
Katie St Ores CFP®, ChFC®, EA, LTC
• 97 Hours of Continuing Education each year to maintain Professional designations
• CFP® - Certified Financial Planner
• ChFC® - Chartered Financial Consultant
• EA - Enrolled Agent - Empowered by the U.S. Dept of the Treasury
• Licensed Tax Consultant -Licensed by the State of Oregon
• Registered Investment Adviser- Oregon Div. of Financial Regulation
• Tax Accountant - Markusen & Schwing CPA's
Katie St Ores discusses the 1040, 1040sr tax form, 1040sr tax form married filing jointly, 1040sr tax form, 1040sr tax form head of household and how to fill out 1040sr tax form 2021. How to file a 1040sr tax form, 1040sr tax form married, McMinnville Oregon, Katie St Ores, tax preparation near me, 97128, and How to fill out a 1040sr tax form step by step.
Note: Please understand that these videos are for EDUCATIONAL purposes only and are very general.. All people and their financial situations are different. So it is important to consult your tax or financial professional.
_________________________________________________
Katie St Ores CFP®, ChFC®, EA, LTC
• 97 Hours of Continuing Education each year to maintain Professional designations
• CFP® - Certified Financial Planner
• ChFC® - Chartered Financial Consultant
• EA - Enrolled Agent - Empowered by the U.S. Dept. of the Treasury
• Licensed Tax Consultant -Licensed by the State of Oregon
• Registered Investment Adviser- Oregon Div. of Financial Regulation
• Tax Accountant - Markusen & Schwing CPA's
Katie St Ores discusses the W4, W4 tax form 2022, W4 tax form 2022 married filing jointly, W4 tax form 2022, single, W4 tax form 2022 head of household and how to fill out W4 tax form 2022. How to file a w4 W4 tax form 2022, how to file a w-4 tax form 2021, W4 tax form 2021 new job, W4 tax form 2022 married, W4 tax form 2022 head, w4 single, w4 married, W-4 married, McMinnville Katie St Ores, tax preparation near me, 97128, Katie St Ores, How to fill out a w4, W4 tax form 2022 step by step,W4 tax form with dependents.
Katie St Ores CFP
www.TaxesbyKatie.com
McMinnville, Oregon 97128
Tax preparer near me
Katie St Ores CFP®, ChFC®, EA, LTC
St Ores Wealth Management llc
www.SaintOres.com
2022, 2020, 2021 Women’s Initiative (WIN) CFP® Board
2022, 2020, 2021 Financial Women to Watch on KZbin
Yamhill 97101 97111 97114 97115 97127 97128 97132 97148 97378 97396

[@KenNickels]

Thank you for the video, it's very helpful.

[@KatieStOresCFPChFCEA]

[11:31am PST] @TaxesbyKatie.com Thanks Ken, Glad it was helpful!

[@YPKKDanceStudio]

Thank you so much . Lot of thanks to you

[@KatieStOresCFPChFCEA]

Thanks Dancer, You are most welcome

[@howardjohnson6584]

Thank you very much!

[@KatieStOresCFPChFCEA]

Thanks Howard, You're welcome!

[@danavychhim2056]

Thank so much for your explain very well in Tax 1040sr.

[@KatieStOresCFPChFCEA]

Thanks Danavy, Glad it was helpful!

[@scott_t_woodsman]

Thanks... helped out with my mom’s taxes.

[@KatieStOresCFPChFCEA]

You're welcome...

[@danavychhim2056]

Thanks for your help with Taxes.🌷🌷🌷

[@KatieStOresCFPChFCEA]

[03:06PM PST] @TaxesbyKatie.com Thanks Danavy, You are so welcome!

[@joseinstantpotcook3065]

Thank you for your easy to follow video. Love your accent!

[@KatieStOresCFPChFCEA]

[2:12pm PST] @TaxesbyKatie.com Thanks Jose, You are so welcome! I'm glad you like the 'Wisconsin' accent.

[@joseinstantpotcook3065]

Loved > Liked. Take care of yourself…can tell you have a KIND heart.

[@joseinstantpotcook3065]

If I was a college student and you were a professor, I would take every single one of your classes… love your soft voice and accent. Also love your mannerisms. Watched your videos just to hear you explain and teach..

[@brendalopez4070]

Thank-You!

[@KatieStOresCFPChFCEA]

[2:14pm PST] @TaxesbyKatie.com Thanks a lot Brenda, You're welcome!

[@sariwhitehurst1544]

Thank you for sharing

[@KatieStOresCFPChFCEA]

Hello Sari, You're welcome. Thanks for watching!

[@woof3598]

I didnt know about 1040sr and when the H and R lady said I didnt owe any thing I didnt berleive her so I came spent the whole day thinking I had to pay taxes based on box 3, Many Thanks, now I need to check Iowa to see if I owe them

[@visaghanbhaskaran1527]

Thank you for sharing the information.

[@KatieStOresCFPChFCEA]

Thanks Visaghan, You are very welcome.

[@claudia9112005]

thank you

[@KatieStOresCFPChFCEA]

Thanks Claudia, You're welcome

[@jameshermes4341]

Thank you.

[@KatieStOresCFPChFCEA]

[11:41am PST] @TaxesbyKatie.com Thanks James, You're welcome!

[@paulhong732]

Thank u 🙏

[@KatieStOresCFPChFCEA]

You're welcome 😊

[@Misha_How_To]

Thanks Katie

[@KatieStOresCFPChFCEA]

You're welcome Misha.

[@yoalisd17]

Katie thank you very much for you videos. Do you have explanation about the 1040 for for married joined with W2 and two kids? Again thank you.

[@KatieStOresCFPChFCEA]

[10:33am PST] @SaintOres.com Hello Yoalis, I plan to do that exact video after the new changes are made at the beginning of 2022. So I'll do a video for IRS Form 1040 and for Form 1040-SR.

[@gregohare2406]

I did my 1040 sr yesterday and watched your video to see if I made any errors. My only suggestion is that you briefly explain the Schedules and forms that you skipped over and note why they may or may not be required. After reviewing the forms purpose, I found that they didn’t pertain to me, so I did as you and skipped them. But it took a lot of effort to come to that understanding. Also, an alternate SSI situation could also have been helpful. For me, I ended up using the .85 reduction, since my total was greater than the standard deduction. I know you can’t include all variables, but reasons for skipping over referenced forms would be helpful.. Thanks for posting this video. All in all, it was very helpful and it is much appreciated.

[@loriwoolford6552]

This is for 2019. Anything for filing your 2020 taxes

[@mjktig]

Very helpful video, Katie. Question: I’m a retired pastor and my monthly annuity is designated as housing allowance. Can I take standard deductions or does this designation require me to itemize? Thank you!

[@brucebishop3044]

My wife and I did not get our first stimulus checks. I’ve been told I can apply for it on my 2020 income tax form. How do I do that? Also, we bought a solar panel system for our home. How do I claim a deduction for that?

[@larryanderson8049]

we did not receive our 2nd stimulus check 2x $600.00 what tax form to correct this?

[@Szirmai4444]

Thank you so much. I would like to ask you, whats the difference from your example when one of the fillers is blind?

[@KatieStOresCFPChFCEA]

[1:03pm PST] @TaxesbyKatie.com Hey RS, For anyone who is both 65 and blind, the additional deduction amount is doubled.

[@jibinjose6832]

Well done Well explained Could you please prepare videos of all 1040 related Forms and schedules in detail.??

[@KatieStOresCFPChFCEA]

[4:23pm PST] @SaintOres.com Thanks Jibin. Yes, I am planning to do as many of the forms and schedules as I can the next couple of months. I appreciate the suggestion.

[@markfrancis5751]

thanks Katie, can you do one with filing jointly with social security and 401K distributions in higher brackets? Whereby the 85% of the S.S. is taxed?

[@KatieStOresCFPChFCEA]

Yes Mark, Thanks for the suggestion. I plan to do a little longer version of the 1040SR for next tax season.

[@404TRUCKERTV]

Yes, im taking income tax accounting, helped me complete my form, A+ lol.

[@KatieStOresCFPChFCEA]

[10:23am PST] @TaxesbyKatie.com Thanks Trucker, My first A+... I'm glad the video helped. Good time to get into tax accounting. Good luck.

[@404TRUCKERTV]

@@KatieStOresCFPChFCEA yes it is, I applied for my ptin.

[@Zanzoonj]

Hello , Thank you for the video, am trying to get a better understanding about 1040 form! which forms goes into form 1040 but not part of it and which forms considered part of 1040 form ?

[@KatieStOresCFPChFCEA]

[4:13pm PST] @SaintOres.com Hey Zee, Depending on your tax situation, you will have multiple forms flowing to 1040. For example: Schedule B. Interest and Dividend Income. Schedule E. Rental and Royalty Income. Schedule 1. Additional Income and Adjustments to Income. Schedule F. Profit or Loss From Farming. Schedule K-1. (1041) Distributions Partnership.

[@settiroshan1189]

Hi thank you for sharing your knowledge and I need to learn us tax so please advise me thankyou

[@KatieStOresCFPChFCEA]

Hello Setti, The best way to learn about taxes is to become and Enrolled Agent. (EA) Here is a link to the Association website. www.naea.org/education-events/enrolled-agent/

[@mosesbarker2188]

Katie I received SSI and direct deposit,, the IRS sent my $600 stimulus check to a close account, can I file a 1040 Sr to get my $600 stimulus check, I'm 63 years old, if I can what is the best way to do it, also when can I send it in

[@Medmann48]

is it possible to use tax filing software like H&R Block Tax Cut or Turbotax to fill out the Form 1040-SR?

[@KatieStOresCFPChFCEA]

[10:43am PST] @SaintOres.com Hey Medmann, Yes, you can use any of those.

[@joebalchunas1321]

You need to discuss affects of CAREs Act.

[@KatieStOresCFPChFCEA]

Hey Joe, Thanks for the suggestion. I did do a video awhile ago called the 'Cares Act and your IRA', but I'll look into doing a more current one.

[@tomle2170]

how about example if pay tax back for IRS

[@DavidWvu]

Hello, will these step by step instructions work with the 2023 forms 1040-sr? Thank you!

[@KatieStOresCFPChFCEA]

Yes. The instructions will be the same.

[@tonimcdaniel9110]

Do I have to fill out any additional form if I HAVE A 67 YEAR OLD DEPENDE T WHO IS MY DEPENDENT AND I AM 75.I am filing as head of household. I AM USING FORM 1040SR.

[@anjusrecipesandmore1120]

Loved the way you showed👏👏

[@KatieStOresCFPChFCEA]

[12:58pm PST] @SaintOres.com Thanks Anju.... Now get back to cooking.

[@alstevens44]

How about tutorial 1040sr using turbotax

[@snuzie421]

I have TurboTax and on my 1099R line 2a box has "UNKNOWN" so what taxable income do I put down?

[@KatieStOresCFPChFCEA]

[11:39 AM PST] @SaintOres.com Hello Sue, If Box 2a on your 1099-R reads unknown, leave it blank, and TurboTax should provide you with follow-up questions.

[@murahomesa]

My wife is not 65yrs yet. Is this scenario the same for 2021 1040sr filing jointly?

[@KatieStOresCFPChFCEA]

[11:31am PST] @TaxesbyKatie.com Hello Murahomesa, Only one spouse must be age 65 or older in order to file 1040SR - if you are filing a married filing jointly return. The same scenario for 2021.

[@murahomesa]

@@KatieStOresCFPChFCEA Thanks, Blessings!

[@KatieStOresCFPChFCEA]

Thanks... You're welcome

[@carimamarquino9173]

hello miss katie,why my husband can files taxes with out my sign only he has put is my ocupation? its been 5 years now hes doing that is that allowed by IRS?

[@KatieStOresCFPChFCEA]

Hey Carima, Form 1040 provides space for signatures of both spouses and states: “If a joint return, both must sign.” However, there are two exceptions to this general rule. You can read up on these exceptions online if your interested.

[@charlesbrown3989]

If (my wife and myself income) is SS and income from a part-time jobs. Can we use the SR? I AM 76 and my wife is 75. All our income comes from social security and part-time employment. Our total is $58,002.

[@KatieStOresCFPChFCEA]

[12:31pm PST] @TaxesbyKatie.com Hey Charles, Yes. Form 1040-SR is available as an optional alternative to using Form 1040 for taxpayers who are age 65 or older. Form 1040-SR has no limit on the amount of your total income for a given taxable year.

[@mithurajah6785]

Is it form 1040-SR(married filling jointly) suitable for the dv lottery?

[@KatieStOresCFPChFCEA]

[1:56pm PST] @SaintOres.com Hello Mithu, Yes, it is.

[@lesliejefferson2490]

I am not over 65 but I am also receiving social security benefit, do I have to include mine together with my husband’s SS benefit?

[@KatieStOresCFPChFCEA]

[10:48 AM PST] @saintores.com Hello Leslie, If you received money for social security benefits, you must include the amount from the statement on your tax return; it has nothing to do with your age.

[@kevinhemmings1089]

do you have a site for people who file seperately but married?

[@KatieStOresCFPChFCEA]

[2:47pm PST] @SaintOres.com Hello Kevin, I do not have a video on that. My plan is to do those videos after the new forms and rules are out. The beginning of the new year is safe.

[@TheCatsandMe]

This is the Video I've been looking for a week now. Thank you so much, Katie! My husband is on SS . we have 2 children ages 11 and 15. We are advised to file a Return to claim Recovery Rebates for my children's 1st and 2nd Stimulus package. I hope you can make a video about how to file Recovery Rebates. One more question, we are in the Philippines. Can we use a Philippines Address for our Tax Return? Our income is only SS Pension and we don't normally file for Tax Return. Please help me.

[@halvey123]

Thanks for posting, question, how to I report Unemployment income, pandemic shutdown in Vermont for 1 month but there was bonus money, so about 4000. Income before I retired, about 13000 income, then after retiring I received 12000 from Soc Security, I am confused, thank you?

[@KatieStOresCFPChFCEA]

[9:31 AM PST] @TaxesbyKatie.com Hello Halvey, You report your unemployment compensation on Schedule 1 of your federal tax return in the Additional Income section. The amount will be carried to the main Form 1040. On your Vermont tax return, your unemployment benefits will go on Line 1. These unemployment benefits, and the additional unemployment benefits in coronavirus relief, are taxable in the same manner. Vermont Department of Taxes should have mailed you your 1099-G form for the unemployment benefits.

[@halvey123]

@@KatieStOresCFPChFCEA Yes, I received the 1099G. Thank you

[@vietnamcombatveteran2274]

Please, I need help bad on this problem, if the amount on line 14 of the 1040-sr2021 tax return is more than line 11 what do you put on line 15, how can you subtract a larger number from a smaller, does this mean I put zero and owe no tax, they don''t make it clear, thanks in advance....

[@KatieStOresCFPChFCEA]

[1:23pm PST] @TaxesbyKatie.com Hello Viet Veteran, Then you put ZERO on line 15. Your taxable income will be zero.

[@vietnamcombatveteran2274]

@@KatieStOresCFPChFCEA Thank you so much Katie...

[@camalebell9826]

@@KatieStOresCFPChFCEA hi how are you I'm trying understand this 1040 senior form I'm 38 years old I got it in the mail today. So i don't feel it out but I signed it anyway. I got a booklet today in the mail

[@joannhill1180]

Can I file my medicare insurance, medicare supplement insurance and medicare part d prescription drug insurance on my taxes.

[@KatieStOresCFPChFCEA]

[02:12 PM PST] @TaxesbyKatie.com Hello JoAnn, Fortunately, some of these expenses are deductible if you itemize your personal deductions. These include health insurance premiums (including your Medicare premiums), long-term care insurance premiums, prescription drugs, nursing home care, and most other out-of-pocket heath care expenses.

[@tokyojerry]

Thanks Katie for this informative video. I would like to clarify filing status: * I am U.S. citizen resident of Japan * Income is Pension & social security only. * Wife is Japanese citizen also resident in Japan. * Wife is dependent and no income to report to U.S. Question: Can I file as head of household? Thanks.

[@KatieStOresCFPChFCEA]

[11:11am PST] @TaxesbyKatie.com Hello Jerry, The answer is No. You must meet the IRS criteria for being "considered unmarried" on the last day of the tax year to qualify as head of household.

[@tokyojerry]

@@KatieStOresCFPChFCEA Thanks much for your clarification on the matter. I appreciate it. Cheers, Jerry - Tokyo.

[@aukezone]

My form is different then the one you show, there is a 6a on mine. and no standard deductions I am confused.

[@KatieStOresCFPChFCEA]

Hello Howard, Yes, you have the new version. Line 6a for the current tax year should be Social Security Benefits. The prior version that was used in the video, Line 6 was for Capital Gain or Loss. And the standard deduction moved from page one to page two.

[@aukezone]

@@KatieStOresCFPChFCEA Thank for the reply, I figured it out and finished the form. This is my first time doing it on my own for years, it was costing me to much, so I had to do it on my own. Cost- 0

[@KatieStOresCFPChFCEA]

Great, $0.00 is always nice. Extra money to spend on something fun.

[@tanhtran8192]

👍👍

[@KatieStOresCFPChFCEA]

[01:02PM PST] @TaxesbyKatie.com Thanks Tanh

[@gweng.9159]

I won $8000 on a horse race (it was a lucky fluke). I had taxes taken out when I cashed my ticket. Do I need to put that info on the form under "other income". If so where do I put the amount of taxes withheld?

[@KatieStOresCFPChFCEA]

[9:26 AM PST] @TaxesbyKatie.com Hey Gwen, I think you should play the Lotto next. You must report your gambling winnings as "Other Income" , Line 8 on Form 1040 and on Schedule 1, Line 8. The tax withed will be on 1040, Line 25 "Federal Income Tax Witheld from", "Other Forms" 25(C).

[@mosesbarker2188]

I receive SSI direct deposit, but when I received my stimulus check, they sent it in the mail, how can I give the IRS my bank account numbers

[@creationsbymzsher6124]

Go to irs.gov and see if you can add it through there. My daughter and I had to do the same thing. Good Luck!

[@leisinmusic947]

Hello Katie, in our case, we are an immigrant couple, 50 years old with 2 girls, and we have ITIN Number, can we use this video as an example?

[@KatieStOresCFPChFCEA]

[11:51am PST] @TaxesbyKatie.com Hello Leisin, Form 1040-SR is available as an optional alternative to using Form 1040 for taxpayers who are age 65 or older. In your case you have to use Form 1040.

[@leisinmusic947]

@@KatieStOresCFPChFCEA Thank you so much!!

[@KatieStOresCFPChFCEA]

@@leisinmusic947 [10:57am PST] @TaxesbyKatie.com You're welcome....

[@TheCatsandMe]

How to File Return if we don't normally file Tax? Senior: Single File with two Dependents ages 11 and 15

[@jprevatte281]

what if you add all income plus 50% of SS and it's over 32,000.00 then what .why not give an example for that ?

[@KatieStOresCFPChFCEA]

[11:11am PST] @SaintOres.com Hello Jim, Thanks for the suggestion, I will add that to my next 1040-SR video. If you file a tax return as Married Filing Jointly and your combined income is between $32,000 and $44,000, then you may be taxed on up to 50% of your benefits.

[@daviddancy5311]

Can you please show me how to do 1040 form for recovery rebate for 1200 stimulus the first one

[@KatieStOresCFPChFCEA]

Hey David, Thanks for the input. I look into doing a video for that.

[@gregohare2406]

Good question. I did my taxes yesterday and had the same question. So I googled the question and found that the IRS has a posted explanation. The stimulus checks are considered a tax credit and do not have to be listed on your 1040 sr. You may want to also do the google search, so you can read the full explanation. I am not a tax accountant so you may want to verify my opinion. The information was readily found through the search and it gives a more fulsome explanation.

[@ddewaukee3105]

What is the foreign country name option for? Thanks

[@KatieStOresCFPChFCEA]

[9:23 AM PST] @TaxesbyKatie.com Hello Coming for unlucky Scott, this is for folks that have an address in foreign country.

[@elainekoteles1948]

I live in North Carolina, can I just file form 1040 SR?

[@KatieStOresCFPChFCEA]

[1:03pm PST] @TaxesbyKatie.com Hello Elaine, If you are age 65 or older, you can file form 1040SR regardless of your state of residence.

[@elainekoteles1948]

Thank you Katie for your reply and your video. My husband age 79, and my age 62, he got pension and SS. I got SS base from my husband. I already fill out form 1040-SR. But you mention only California and Texas, my state NC need to file state income tax return beside this form, could you please give info what kind of form I need to add beside this form 1040 -SR? Thank you 🙏

[@KatieStOresCFPChFCEA]

[3:43pm PST] @TaxesbyKatie.com Hello again Elaine, You will also need to file North Carolina individual income tax return Form D-400.

[@elainekoteles1948]

Thank you Katie, please made video to fill in D-400. Thank you very much for your kindness and time to help seniors and others. 🙏

[@KatieStOresCFPChFCEA]

[9:52am PST] @TaxesbyKatie.com You're welcome, and thanks for the video idea.

[@luizverdecanna8023]

Dear Katie , you skip the foreign country like it did not existed, seniors live in Panama. Costa Rica, Mexico etc... the instructions manual DO NOT have space to put address ask only country, city, zip code overseas, is that correct ? I appreciate if you can tell what line number I fill for rental income from Schedule E for 2019, I have not file it yet. And what line number I fill for rental income from Schedule E for 2020, I heard line 17.

[@KatieStOresCFPChFCEA]

Hello Luiz, Sorry I skipped over the foreign country section. Since I live in Oregon, I set my example in the video in Oregon. Back to your Rental Question: Rental income will be on 2019 Form 1040, Line 7a (Other Income from Schedule 1). On Schedule 1, Rental Income will be on Line 5 (Rental real estate, Attach Schedule E). Kudos to you for trying to do it by hand, but you might want to use some tax preparation software in this case.

[@luizverdecanna8023]

@@KatieStOresCFPChFCEA OMG I can believe you exist, nobody gives support like this, to call IRS and have a human on the phone is very limited. I will revise what you explained and get back to you if needed. 2020 can be filled on line but 2019 does not have this option I have to fill by hand and mail it. ( you don´t mention 2020 the line to be filled might be different line of 2019)

[@KatieStOresCFPChFCEA]

[5:02 PM PST] @TaxesbyKatie.com Hello again Luiz, Yes, I do exist. But a little tired after doing tax returns all day...... Line for Other Income from Schedule 1 on 1040 for 2019 and 2020 are different. For 2020 it is line 8, not 7a like on the 2019 form. I'll have to do a new updated video for next the tax year.

[@luizverdecanna8023]

@@KatieStOresCFPChFCEA Right !!!

[@luizverdecanna8023]

@@KatieStOresCFPChFCEA I forgot the very first question, I live abroad, have a condo in Florida rented. I don´t put the rented property when filling the top of the form(stay blank ?) but only the Foreign Adress ? they ask for Country, City, Zip Code and no address overseas, is that correct ? The instructions manual says so or I misunderstood. Please do only when you have some spare time, thanks.

[@vivianasantacruz8178]

Hi, I am 70 years old and I have a dependent with a disability of 30 years old. I received SSA 1099 for my self for $2780 and for my daughter I received SSA 1099 $2760. That is the only income I had. Do I need to file my income taxes?

[@KatieStOresCFPChFCEA]

[9:47 AM PST] @TaxesbyKatie.com Hello Vivian, Based on the information you provided, none of your SSDI is taxable because your income is below the threshold. Hence, you are not required to file.

[@vivianasantacruz8178]

@@KatieStOresCFPChFCEA thank you very much and thank you for sharing those amazing educational videos.

[@KatieStOresCFPChFCEA]

@@vivianasantacruz8178 Thanks for the nice words Viviana.

[@woof3598]

if I owe nothing do I still have to send it in?

[@KatieStOresCFPChFCEA]

[9:44am PST] @SaintOres.com Hello Woof, The IRS has general filing requirements for most taxpayers. Even if no tax is owed, most people file a return if their gross income is more than the automatic deductions for the year. The primary automatic deduction is the the standard deduction. Its amount will depend on your filing status and age.

[@woof3598]

@@KatieStOresCFPChFCEA your video was a big help, Many Thanks

[@KatieStOresCFPChFCEA]

[10:54am PST] @SaintOres.com Thanks Woof, You're welcome...

[@ray46rs]

What happen to the tax witheld

[@KatieStOresCFPChFCEA]

[10:04am PST] @SaintOres.com Hello R S, If you had any taxes withheld from W-2s, 1099-Rs, or other forms. You will include them on Line 25 (a, b, or c), Federal Income Tax Withheld, on the second page of your 1040. I hope this helps.

[@josephcrane5301]

She did not mention that if you also have an IRA account, you can take 2/3 or 66% of the difference between your taxable income and your standard deduction, so for her example, you can take $4000.00 from an IRA ACCOUNT and still pay zero taxes, in the sample that she used, there is a more profound benefit for couples that have high social security benefits and low pensions, so as an example if you have SS $42,000 AND other income including pensions an interest income totalling $18,000 then you can take $4000.00 from an IRA and still pay zero taxes. The more you know.

[@brendaodom2320]

She stipulated initially the example assumed only pensions and social security income used for the example.

[@kellysdt]

what do you do if the social security benefits have a taxable amount

[@KatieStOresCFPChFCEA]

[9:52am PST] @SaintOres.com Hello Kelly, You report the taxable portion of your social security benefits on line 6b of Form 1040 or Form 1040-SR.

[@josephcrane5301]

A taxable amount is a vague way of looking at your situation, because zero is an amount, so if your SS benefits are taxable, when you finish the 1040 form you still may be in the zero tax bracket, you must do both forms to get the answer. Even if your SS benefit work sheets shows that a part of your SS is taxable. Do the MATH.

[@nchhimfinch214]

Check Publication 915 schedule 1

[@mohammadalamgir6096]

I am full time student and I work home care for my grandmother and my income w-2 total $25650. And I live in together house? Tell me reply please

[@KatieStOresCFPChFCEA]

Hello Mohammad, Since you are preparing tax returns, I would recommend joining a tax preparer's group where professionals ask and answer these types of questions.

[@settiroshan1189]

And iam Indian tax consultant also

[@KatieStOresCFPChFCEA]

Should be a lot of help in the US if you already are an Indian Tax consultant.

[@VanNguyen-nr7br]

Tax year now is 2020, not 2019.

[@KatieStOresCFPChFCEA]

Thanks Van, Tax year is 2020. The video was filmed last year, but the 1040-SR form was new then, and it is basically the same this year.

[@darylbiermann5619]

This is a good video, but skips a lot of steps because income is not taxable. Do a new video where income is taxable and then we will see all the steps required.

[@KatieStOresCFPChFCEA]

Hey Daryl, Thanks for the suggestion. I'll do some more videos on different situations for filing out the 1040-SR.

[@sonetn12]

I don’t receive any money from the government to help me $1,200 and $600 and $1,400😔

[@KatieStOresCFPChFCEA]

Hello Sone, Give the IRS a call at their helpline. Prepare for a wait. IRS live phone assistance is extremely limited at this time. For Economic Impact Payment questions, call 800-919-9835.

[@sonetn12]

@@KatieStOresCFPChFCEA okay thanks you so much