Canfield is single, 70 years old, and has no dependents. Canfield will not have to file a tax return in 2014 if: I. his gross income does not exceed $11,700. II. his only income is $4,000 of self-employment income.

Question

Quizplus · Accepted Answer

For a single taxpayer aged 65 or older in 2014, the gross income threshold for filing a tax return is $11,700. Therefore, if Canfield's gross income does not exceed $11,700, he is not required to file. However, self-employment income of $400 or more requires filing a tax return, so statement II is incorrect.

Canfield Is Single, 70 Years Old, and Has No Dependents