A Dozen Tips for Older Taxpayers

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I am retired and did not have taxes taken out of my 1099 income. However, my itemized deductions are greater than my Adjusted Gross income. Is it possible for me to get a refund even though I was not taxed on my income?

Ashley of MO 4:54PM February 15, 2013

I'm 59, single, on SSDI and need to know if I can file taxes for my medical/dental expenses paid by me. What forms should I use and since I don't have wages where do I write down my income? Thank you.

CeCe of NV 2:05PM January 18, 2013

I am disable, single and own a home that is paid for and rent it out. I also am renting a place, but by the time I pay my bills I have really nothing to live on. I only make 13,000 total. What is my taxes going to be like? Will I have a large amount to pay out if everything I get for renting goes to pay my rent. I move because I couldn't sell an my neighborhood was not good for a single person

Suzie of GA 11:51PM February 24, 2012

Perfect work!

name of 5:03PM June 12, 2010

Hello,
I'm 68 years old and my husband died two years ago. He always
took care of everything and I just signed. I did not receive a
form from the IRS. I live on only my social security, we had
no pension plan as we had our own small business for many years. I had to withdraw approximately 20,000 from our
Iras last year in order to make ends meet and did not pay taxes when withdrawing.
I realize now that I will have to pay but can I deduct medical,
house interest, taxes, etc? Is there a site where I can download a tax form? I feel so stupid. I know I waited too long
but just found out I needed to pay taxes on those withdrawals.
Please help. Thanks so much.

Marlene Wagner of IL 12:56AM April 12, 2009

my only income is from bonds,investments...etc...can i contribute to a roth ira and regular ira..i am 69 years old.?

jo ann ramer of NJ 7:39AM March 03, 2009

In your aritcile "A dozen tips for older taxpayers", i have a question regarding outside income if you are 62 and drawing social security. Do pensions and IRA distribution count against social security benefits, and if so how?

Fred Ignash of MI 11:34AM February 24, 2009

A reader asked a question if they could take a hardship distribution from their 401K to pay their daighter's college tuition...and you stated no. While this is the case, there is another way for a person to take money from their 401k without penalty....and that is teh 72t program. The IRS allows early no penalty withdrawal from a 401K, but it must be done on aschedule and not one time. You must continue early distributions fro a minimum of 5 years or until you turn 59 1/2...for example...if you are 52 and want early 401k funds, you must take the distributions for 7 1/2 years, or until you turn 59 1/2...or if you are 56 and need money....you must take the distribution until you turn 61...or at least 5 years. After these time frames are over...you can then stop the distributions and do what you want with your funds. Even IRS personnel are not very familiar with this program, ,so be sure you get some expert advice if you decide to pursue this option. The IRS website has good info on teh 72t program or just type in 72t into any broweser fro a wealth of information.

Larry Opperman of AK 11:17AM February 24, 2009