During this tax year I received disability while on active duty, separated and began receiving VA disability in addition to SSD. Will I pay taxes on my disability?
During this tax year I received disability while on active duty, separated and began receiving VA disability in addition to SSD. Will I pay taxes on my disability?
If you have other sources of income, your Social Security Disability Insurance (SSDI) benefits will be taxable if your total income (including your SSDI payments) is greater than $25,000 per year if single and/or greater than $32,000 per year if married. Fortunately, though, you won’t have all of your benefits amount taxed. In reference to DoVA disability compensation, it is not subject to federal income taxation. Take care.
Thus, I quite often comment that "possessing well-informed knowledge is truly a powerful equalizer!"
I'm receiving ssdi. believe I will have to pay taxes on 80% of my SDDI if my total income is more than 25,000. Mine is. This my first tax season so I haven't filed taxes yet.
Hi. In your case, it is better to take professional guidance so that you do not land into any problem. I think a tax attorney will help you in a better way. You can consult a tax lawyer and I am sure that you will find the solution for your problem. If you want, you can check this to find for a lawyer who will help you in the right way.