caledesi
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Mon Jan-09-06 11:54 PM
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Please help. Income tax question. |
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I have been on disability since Oct 2005 and my husband has not worked since completing a temp job in April 2005. (approx 3K total).
So, is my disability going to be taxed?
I am so confused.
TIA.
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Nye Bevan
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Tue Jan-10-06 01:06 PM
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1. It is likely that it is taxable income |
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see http://www.irs.gov/faqs/faq-kw43.htmlhowever, assuming that you are filing a joint return with your husband you are entitled to the standard deduction of $10,000. So if your joint income is less than this there will be no tax due. http://www.irs.gov/publications/p501/ar02.html#d0e5773
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caledesi
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Tue Jan-10-06 02:59 PM
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3. Thank you all so much. DUers ALWAYS come through, nt |
catmandu57
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Tue Jan-10-06 01:35 PM
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You won't have to bother with taxes, I'm on disability and have never had to file.
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oneighty
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Tue Jan-10-06 04:39 PM
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4. Are you on SS disability |
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or a company plan. It looks like that might make a difference.
180
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WCGreen
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Tue Jan-10-06 04:44 PM
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5. No, you won't even have to file if that is your only income.... |
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Disability is taxed the same as regular SSI payments. Up to about 32k per couple, including the Disability, makes the Disability tax free. After that amount, you would have to claim a certain amount based on how high your income goes....
If you have any questions or need someone to look over your taxes, PM me...
I have been preparing taxes for over 20 years....
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Wed Apr 17th 2024, 11:40 PM
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