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Home » Minimum Taxable Income
Minimum taxable refers to the least amount of gross income that an individual, estate, or trust must from the tax year, in order to be mandated to file a federal income tax return with the IRS. This threshold is income-based and varies with the types of filing status, age, dependency status, and kind of income, as prescribed by IRS rules. This means it is the point above which income exceeds either standard deductions, personal exemptions when due, or any other adjustment – part of income is taxed or requires return to file for refunds.
The IRS has laid out yearly income levels for determining if a tax return is necessary. These tie into the standard deduction, which bumps up slightly each year with inflation and even more for persons over 65 or blind. Here is a snapshot for 2024 (as of March, 2025, looking back):
These numbers assume a fairly simple income situation, without interesting twists like self-employment or strange credits.
Exclusions (not counted toward the minimum) may include tax-exempt interest or certain social security benefits except to the extent that they create separate filers within requirements.
Some situations tweak the rules: