Does non-taxable income count toward the $12,000 threshold for a f1040?
- Max HooplaLv 76 months ago
Go for the obvious on this one.
- BabeLv 76 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.
- Anonymous6 months ago
Generally no. However, it can make SSA benefits taxable, which can push one into a filing requirement.
- A HunchLv 76 months ago
You mean the standard deduction = no.