taxes
 

 taxes







 

Question by  bob56 (18)

Is social security disability taxable income?

 
+7

Answer by  Samantha57 (391)

Social security benefits are taxable in certain instances. According to the IRS website, if your only source of income in the year 2008 came from social security, then this will not be subject to federal income tax. If you had other income in a given tax year, you may have to pay taxes on all or part of your benefits.

 
+6

Answer by  DouglasEarlClore (1236)

According to the Social Security Department, if you have reportable income of $25,000 as an individual or reportable income of $32,000 on a joint return, you will have to pay taxes on yor income. If your income is below these amounts, you will not have to pay income tax.

 
+5

Answer by  John (9008)

It depends; there are special rules. It depends upon your total income from all sources. If it is too high, then it is taxable. If not, then it isn't.

 
+4

Answer by  Srfingfreak (697)

Yes, it is. However, the tax rates on social security disability income tend to be low, as the benefits are often low.

 
You have 50 words left!