How do I do if the file is not needed file taxes, but which have a high interest mortgage with no income file?

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I live in this house with a mortgage pay fiance and I serve, I have no doc home savings and credit because he is not ready, but got the mortgage payment cp59 asking me to go a file or why, or why non-necessary file.but my only income of Social Security and interest is higher than what I get

5 Comments
  1. Reply
    tro
    February 22, 2011 at 10:57 am

    because IRS received the 1098 I of your mortgage interest they are wondering why you are not reporting any income that would be required to pay the mortgage
    if your income does not exceed your personal exemption and standard deduction, you do not have to file especially since no income tax was withheld and you respond to them with this answer

  2. Reply
    StephenWeinstein
    February 22, 2011 at 11:24 am

    The reason why you are not required to file is that you have no taxable income, your only income was social security, and the total amount of your income is not enough for you to be required to file. You could try to explain that to the IRS, or you could just file.

    If you file, then you file exactly the same way as you would if you were required to file, except, of course, that many entries will be blank of zero. You must enter the actual amount of social security benefits received (line 20a on Form 1040 or some other line if you use a different form or a computer), but you are not taxed on them. For the taxable amount (line 20b on Form 1040 or some other line if you use a different form or a computer), enter zero or leave it blank. You do need to enter your name and social security number. Nearly everything else will be zero or blank.

  3. Reply
    Max Hoopla
    February 22, 2011 at 12:11 pm

    Don’t file, explain why.

  4. Reply
    Judy
    February 22, 2011 at 12:18 pm

    If you don’t owe any tax, then a deduction for mortgage interest wouldn’t do you any good. Since you aren’t paying it anyway, your fiancee is, you couldn’t deduct it.

    As to the CP59 letter, explain that you didn’t file because your only income is ss so you aren’t required to. BUT – if you got a no-doc home loan sounds like you DID have some other income that you just aren’t reporting. They don’t, and didn’t, give no-doc mortgages just because you had good credit – you had to have, or at least claim you had, income. If that’s the case, better clean it up and file properly, including past years, since the IRS radar is now focused on you. If you lied to get the mortgage, that’s fraud, and if you have/had income you didn’t report, that’s tax evasion – take your choice.

  5. Reply
    Ms. Angel..
    February 22, 2011 at 12:37 pm

    You must respond to the CP59, simply explain that your fiance pays the mortgage. IRS must ask how you paid mortgage if you don’t have income, because it could be rental property and you could be making money and not reporting it to IRS.
    good luck.

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