My teenage son gets survivor benefits from his mom's death. The benefits are attached to his social security number. He worked part time this year, so it will be his first time filing an income tax return. Does he have to claim his survivor benefits on his tax form? (please no answers stating I should call a CPA... I will if I don't get an actual answer here :-)
2007-01-30 07:21:17 · 10 answers · asked by SLWrites 5 in Business & Finance ➔ Taxes ➔ United States
Probably because all income - taxable or not - must be filed for. However, I'm sure if you go to the IRS site, you might find the answer there...and you won't have to pay your CPA.
2007-01-30 07:30:02 · answer #1 · answered by Brutally Honest 7 · 0⤊ 1⤋
1
2016-10-08 20:12:23 · answer #2 · answered by Wilbur 3 · 0⤊ 0⤋
Yes, your son has to claim the benefits, but assuming your son is single, benefits will not be taxable unless the total of his modified adjusted gross income, plus one-half of his Social Security benefits, exceeds $25,000.
Even with this answer (or any other answer for that matter), I would suggest you seek help from a CPA anyway. Just because some boob (not me of course ^_^) gives you an answer that sounds ok, there are always nuances to the tax laws that a CPA will understand better.
2007-01-30 07:37:01 · answer #3 · answered by Fin 5 · 0⤊ 1⤋
Yes, he has to claim the benefits if you're talking about monthly checks. The one time death benefit of $255.00 is not taxable as far as I know. If he claims himself on the tax forms, he is allowed a certain amount of income before it is taxable, whether it's social security of from a job.
2007-01-30 07:29:54 · answer #4 · answered by beez 7 · 0⤊ 1⤋
They maybe taxable to him, if you take his total income plus 1/2 of his social security benefits and they total more than 34,000 assuming that he is filing single, If the total is lower than that they would not be taxable, but you still have to report it on the return
you would put the total amount of benefits on line 14a on the 1040a and -0- on line 14b. on the 1040 put the total amount on line 20a and -0- on line 20b.
Publication 915
http://www.irs.gov/publications/p915/ar02.html#d0e804
2007-01-30 07:54:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Social Security Disability Information : http://DisabilityHelp.siopu.com/?Pwl
2017-04-06 01:48:18 · answer #6 · answered by ? 3 · 0⤊ 0⤋
It may be reportable, but probably is not taxable--depending on how much he earned from his part-time job.
Check out item 6.3 (and the links found there) on the IRS web page linked below. The second link is to the worksheet to make the calculation.
2007-01-30 07:39:18 · answer #7 · answered by Take Responsibility 2 · 0⤊ 1⤋
yes, claim all income tell him to go to h & r block
fileing with sssb can be tricky, he is allowed to make a certin amount working with out it affecting the ss. benefits
2007-01-30 07:32:13 · answer #8 · answered by alleykhad607 5 · 0⤊ 1⤋
Yes he does, but will not be taxable. It is just considered reportable income.
2007-01-30 07:30:41 · answer #9 · answered by SHIRLEY 1 · 0⤊ 1⤋
I would say yes because it's income .
2007-01-30 07:29:33 · answer #10 · answered by ? 7 · 0⤊ 1⤋