My tax situation is very complicated. I'm disabled and on Social Security although I am only 37. I am not employed however I do have an IRA that I pay taxes on every year because of withdrawals. This year, I returned to college and I have several student loans. Now tax time is approaching and I don't know what to do. Am I disabled, a student, or a disabled student?
2007-12-01 12:59:29 · 4 answers · asked by stlsigma2 1 in Business & Finance ➔ Taxes ➔ United States
You would be a disabled student.
2007-12-01 13:05:33 · answer #1 · answered by Mark S 5 · 2⤊ 0⤋
All of the above, but that doesn't really affect your tax return. You will still owe tax on the IRA withdrawal. You might or might not owe any tax on the SSD, depending on your total income.
You can probably take an education credit since you are in college. When you start paying back student loans, you will be able to take an adjustment for the interest on the student loans.
2007-12-01 14:57:37 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Bob F is actual. with out seeing your tax return from final year, and with out seeing your husband's recent pay-stub, and with out understanding your loved ones prestige (style and age of infants, deductions, modifications, etc.), we would basically be guessing and you prefer an answer, not a wager. Taxes are very complicated regrettably. virtually constantly, you're able to come back a greater refund, somewhat in case you weren't making predicted tax earnings your self-employment earnings, and somewhat in case your husband makes a minimum of $25,000 according to year and hasn't adjusted his withholdings, and somewhat in case you have not have been given infants. while you're "relatively worried" which you will not get a refund while "you relatively prefer it", then enable me make 2 techniques. initially, do not anticipate the gov't to pay you...flow available and get a job. Get some certain earnings getting into the domicile. Then, you're actually not reliant on the gov't to place food on your table. 2nd, deliver mutually your recent pay-stubs and flow to the placement that arranged your 2007 taxes. opportunities are high, for unfastened, they grants you an estimate as to what is going to take place with 2008. stable good fortune! yet greater effective than good fortune, remember on your own not elementary artwork to get you thru to prosperity.
2016-11-13 05:05:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your occupation is student and you are disabled.
2007-12-01 13:14:08 · answer #4 · answered by ninasgramma 7 · 3⤊ 0⤋