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How much money do you have to make to file taxes? What is the minimum income to file taxes?
Let’s take a look at the requirements for the minimum income to file taxes in 2013 (and due in 2014).
The IRS recently released the minimum income to file taxes in 2013.
For the 2013 tax year, you will need to file taxes if your gross income meets the minimum income for your filing status and age. Here are the minimum income limits for the 2013 tax year.
|Filing Status||Minimum Gross Income (under 65)||Minimum Gross Income (65+)|
|Head of Household||$12,850||$14,350|
|Married Filing Jointly||$20,000||$21,200 (one spouse)
$22,400 (both spouses)
|Married Filing Separately||$3,900||$3,900|
|Widow with Dependent Child||$16,100||$17,300|
This table does not apply to dependents. See When Do Kids Need to File Taxes? for minimum income to file taxes for children.
Once you find out if you meet the minimum income to file taxes, you can determine your tax rate using the current tax brackets.
Gross income doesn’t include social security benefits.
However, there is an exception to this rule if half of your social security benefits plus your other gross income is more than $25,000 ($32,000 if married filing jointly). Once that happens, you’ll need to file a 2013 tax return. Married filing separate also have different social security rules. For more information, see Do You Have to Pay Income Tax on Social Security?
There are special rules for self employment earnings and church earnings. You must file taxes if your:
If you are self employed, you will also need to file and pay self employment tax.
Optional filing. Even if you are not required to file a tax return, you can choose to file one. You may want to file an optional tax return if you had any federal withholding or are entitled to tax credits, like the earned income tax credit or the new Health Insurance Premium Tax Credit and want to get a refund.
Other filing requirements. In addition to the income requirements, there are other circumstances when you must file a tax return. One example is if you sold your home. For all the requirements, see Publication 17.
After you file. Once you file, you can see How Long Does it Take to Get Your Tax Refund Back?
If you are under the minimum income to file taxes, and are unsure whether or not filing your taxes will benefit you, use our Tax Calculator to compute your tax liability and refund.
Now that you know how much money you have to make to file taxes, go ahead and file your taxes online with TurboTax!