moira77
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Sure it is, if you don't make very much then your standard deduction can reduce your taxable income to $0. |
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Doctor Deth
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not likely without earning very little to begin with or being totally broke otherwise with other deductible expenses |
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ponek99
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yes as long as it is done legally |
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Judy1
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Sure it is. There are a large number of people, mostly low to medium income, who don't have any taxable income. |
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bostonianinmo
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Sure. For example a typical family of 4 earning less than $24,300 has a taxable income of $0 due to the standard deduction and the 4 exemptions that they're entitled to claim. |
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Jim Kirby, CPA/PFS, CFP, CFS
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Yes. Millions of children have 0 taxable income. |
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peach
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Is possible if your income is low. If below the guidelines you don't even have to file. |
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accordingtomom
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Absolutely. Look at the filing requirement table in the Instructions to the 1040. Anyone with or below that income limit will have zero tax liabilty.
For instance, a single person with $8750 income does not even have to file. A married couple filing a joint return can have $17,500 in income and not have to file.
Yes, it is very possible, in many other situations, to have no tax liability. |
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googie
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Sure. If you have no income from any source whatsoever you then have zero taxable income. If you have limited income which is offset by claiming yourself as a dependent, you have zero taxable income. |
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chocoholic127
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yes if on 100% disabality |
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wartz
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Sure. Don't work. Be retired on Social Security Only. Be a prisoner. Many other ways. |
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