2007-11-28 02:45:34 · 5 answers · asked by mcquilkincurtis 1 in Business & Finance ➔ Taxes ➔ United States
Veterans pensions and SSI are never taxable, so you don't pay taxes on those or even report them.
2007-11-28 03:42:54 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
VA Pensions are never taxable, regardless of the amount you receive. Social Security benefits, if your only source of income, are not taxable.
However since you have other income, even though it's non-taxable, you have some quick calculations to run to see if any of your SS is taxable. If one half of your SS plus all other income exceeds $25,000 if Single or $32,000 if Married Filing Jointly or $0 if Married Filing Separately then up to 85% of your SS benefits may be taxable.
2007-11-28 03:23:31 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 1⤋
VA disability compensation and SSI are not taxable income.
2007-11-28 04:15:50 · answer #3 · answered by npk 7 · 0⤊ 0⤋
Taxes are based on the amount of income you have, not neccessarily where it comes from or why you are getting it. So you may have to pay taxes on at least a portion of it.
2007-11-28 02:48:59 · answer #4 · answered by countryguyhfc 5 · 0⤊ 2⤋
It depends on how many dependents you have. If you are alone, I still doubt that you would qualify to pay taxes.
2007-11-28 02:49:38 · answer #5 · answered by Anonymous · 0⤊ 1⤋