How much social security can you make without filing taxes?

This depends on whether you have any other income. Half of your total Social Security benefit and all other income must be below $25,000 or $32,000, depending on whether you're a married couple filing jointly. If you've had more income than that -- through Social Security or other means -- you'll need to file a tax return.

Can debt collectors garnish social security payments?

Yes, debt collectors can garnish Social Security benefit payments if certain conditions are met. They can only take money from you if your account has more than two months' worth of benefits in it. So, if you get $1,500 from the Social Security Administration monthly and have $5,000 in your account, debt collectors could take up to $2,000 from you. They would be required to leave at least two months of benefits behind. Note that this differs from SSI payments, which have different rules for garnishment .

Should I file a tax return even if I don't have to?

There are some situations in which it could be important to file a tax return even if you don't technically have to according to the rules laid out in this article. For example, if you had any tax withheld during the year -- either from Social Security payments themselves or from any other sources, such as quarterly estimated tax payments or carried-over refunds from prior years -- you should file a return. You may be able to get some of these amounts back as a refund . You may also need to file a return if you're a dependent of your spouse or have a dependent. In either situation, there could be income complications that require filing a tax return. Finally, if you or someone else, such as a spouse or dependent, has health insurance coverage through an Affordable Care Act Marketplace, you might need to file a return to reconcile premium adjustments and credits.

Advertiser Disclosure

Taxes and Social Security Benefits in 2024: Do I Have to File a Tax Return If I Only Receive Social Security?

February 29, 2024

3 min Read

Written by Kellan Jansen

Edited by Melanie Grafil

An older couple plans their finances and looks forward to retirement.

shapecharge / Getty Images

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Roughly 40% of people who receive Social Security end up paying federal income taxes on their benefits. Whether you owe any taxes on your Social Security will depend on the amount of other income you have during the year. FICA taxes, which fund Social Security and Medicare, are deducted from your paycheck during your working years. However, once you start receiving Social Security benefits, your obligation to pay FICA taxes ends, but your benefits may still be taxable depending on your total income.

Keep reading to learn more about how taxes on Social Security benefits work in 2024.

Do I Have to File a Tax Return If I Only Receive Social Security?

Since only 40% of Social Security recipients pay income tax on their benefits, you’re probably wondering which group you’re in. The answer depends on your gross income.

For this exercise, gross income is equal to:

One-half of your Social Security benefits
All other income, including tax-exempt interest payments

So, if you received $20,000 in Social Security benefits and no other income, your gross income for this purpose would be $10,000. But if, in addition to your benefits, you received $15,000 in interest from equities or bonds, your gross income would be $25,000. Capital gains taxes may also apply if your investments have sold at a profit, further affecting your gross income calculation.

The IRS will only ask you to file a tax return if your gross income is greater than or equal to the minimum filing threshold for the current year. For 2024, the IRS has set the following minimum filing thresholds:

$25,000 for single heads of household and qualifying surviving spouses
$25,000 for married couples filing separately
$32,000 for married couples filing jointly

Today's Top Offers

This means you may have to do a few calculations to figure out if you need to file a federal tax return this year. You can get your answer by dividing by two the total amount of Social Security benefits you received throughout the year and adding any other income to that figure. If the amount is below the income tax filing threshold — $25,000 or $32,000 — then you don’t have to file a tax return that year. However, it’s important to consider write-offs or deductions you may be eligible for, which could reduce your taxable income and potentially change your filing requirements.

Just keep in mind that the IRS sets new minimum filing thresholds annually to keep up with inflation. So, even if you don’t have to pay taxes in 2024, you might in 2025. The good news is you may not have as many bills to keep up with when you retire. Additionally, knowing your tax bracket can help you estimate how much tax you might owe on any taxable portion of your Social Security benefits and other income, helping you plan better for your financial future.