i earned no income for 2006. am i cancer patient. finally received beneifts starting 0107, but received lump sum payments for back pay 12-30-06.
2007-02-03 11:17:04 · 2 answers · asked by Emanuel G 1 in Business & Finance ➔ Credit
Social Security income is taxable, but for the year you actually receive it. You will not declare this on your 2006 reports, but on 2007.
2007-02-04 06:49:58 · answer #1 · answered by Anonymous · 0⤊ 0⤋
talk to your tax preparer (if possible dont go to H& R block or the other ones that pop up between now and 04/15)
GO TO A REAL ACCOUNTANT!
ALot of factors will determine what you need to do.
First and most importantly, how do you (or did you) normally file your taxes.
For example, if you are married and filed with hubby, your answer is going to be different then if you file single and cannot be claimed as anyone elses dependant.
I am not a tax preparer nor do I play one on tv. I just know that 'income' is counted differently based on its source!
Best of luck for your speedy recovery!
2007-02-04 13:57:14 · answer #2 · answered by lisa s 6 · 0⤊ 0⤋