If a 60+ year old couples only taxable income was 10k from a 401k and they took the 10k couples deduction would any federal tax be due? I ask the same question but the only taxable income is from CD interest. Nether spouse is yet collecting social security. Would social security income make a difference?Tax Question: 10k IRA income....10K couples deduction....taxes due???
If your reportable income is under $17,500, whether from IRA's or CD's, you don't have to file and don't owe anything. If you were also collecting ss, that might make a difference depending on how much ss you were getting.
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