do i pay taxes on my ssi disablity benifits?

Answer 1

Nope. If you collect disability from an insurance policy you do but not SSI.

Answer 2

See? it really is what i do not get both. no longer in worry-free words has the guy refused to pay his taxes, he blames it on undesirable suggestion from a monetary adviser. So, the following is a guy who ought to be Sec. of Treasury and he doesn't pay his taxes for various years even although those are worry-free own taxes that anybody knows about and relies upon upon an incompetent monetary adviser and, if what he says is authentic, HE has even a lot less competence. And this, to liberals, isn't a situation? only a hiccup. Holy freakin' crap!! Intentional tax evasion and incompetent monetary practices. the guy won't be able to even deal with his personal own funds, yet golly, enable's positioned him in cost of our us of a's monetary administration. Unfreakinbelievable.

Answer 3

If you're on Supplemental Security Income (SSI) the answer is no.

If you're of Social Security Disability Insurance (SSDI) the answer is maybe. It depends on how high your income is overall.

Answer 4

See the worksheets in:
http://www.irs.gov/publications/p915/ar02.html

And see this on Earned Income Credit:
http://www.disabilitybenefits101.org/ca/programs/work_benefits/eitc/faqs.htm

And see "credit for the elderly and disabled" at
http://www.irs.gov/publications/p17/ch33.html and
http://www.irs.gov/newsroom/article/0,,id=106798,00.html

The conflict with other replies you receive may be due to the means testing in taxation of SS, including SSDI. No doubt most recipients of SSDI don't have enough wealth or other income to pay tax.

There is a decent explanation at
http://arthritis.about.com/cs/disability/a/keck_4.htm
"Question #15: Must a person pay income tax on SSDI? On SSI?

"[Answer by] Don Keck: Fifty percent of SSDI benefits are taxable if annual adjusted gross income is $25,000-$34,000 for an individual, $32,000-$44,000 if married and filing jointly. Eighty five percent of SSDI benefits are taxable on annual income exceeding $34,000 for an individual, $44,000 if married and filing jointly."

Here's the IRS FAQ. The IRS draws no distinction between regular and disability payments by the SSA:

6.3 Social Security Income: Regular & Disability Benefits

I retired last year, and started receiving social security payments. Do I have to pay taxes on my social security benefits?

To determine whether any of your benefits are taxable, compare the base amount for your filing status with the total of one half of your social security payments plus all your income from other sources, including tax exempt interest. If you are married and file a joint return, you must combine your incomes and your social security and equivalent tier 1 railroad retirement benefits when figuring the taxable portion of the benefits.

The taxable amount of the benefits is figured on a worksheet in the Form 1040 (PDF) or Form 1040A (PDF) instruction book, or in Publication 915, Social Security and Equivalent Railroad Retirement Benefits. Refer to Tax Topic 423, Social Security and Equivalent Railroad Retirement Benefits, for base amounts, and additional information regarding taxability and reporting requirements.

Answer 5

I think u have to make so much ,before u pay taxes on it .i think its over 15,000 a yr .call ur social security office and they should be able to help u better .. good luck with ur taxes...

Answer 6

You will receive a Form 1099-SID listing the amount of benefits you received, but the answer is no.

Answer 7

No. Disability benefits are not EARNED income.

Answer 8

No the rest of the hard workers do. It come out of there paychecks every payday.

Answer 9

no - unless the tax laws have changed!