Taxes

[teejay53]

hi all;

i would like your input on this.

i know dic isn't taxable (i was told by a va rep) so i guess that is correct.

is social security widow disability benefit taxable? is after a certain amount it is taxed?

thank you for your help with this.

teejay

[Berta]

"Social Security benefits may be non-taxable or partially taxable, depending on your total income from other sources. Use the "Social Security Benefits Worksheet" in the Instructions for Form 1040 (PDF), page 28, to calculate your taxable amount."

http://taxes.about.com/od/income/qt/Social_Security.htm

In some cases survivor's benefits are partially taxable.

If you have any earned income at all, it is best to file a tax return. I always have a tax preparer do mine.

In additional to the regular info she needs I always give her a print out of both the SSA statement we will get before tax time every year as well as proof of my annual DIC amount.

[Berta]

Forgot to add:

In my locale they give property tax exceptions to wartime vets, disabled vets, and survivors of 100% SC veterans.

Also we have a senior citizen exception through the county property taxes too.

I need copies of my IRS tax forms in order to get these benefits so this is one good reason that every vet and their survivors might need to file returns for even if their taxable income on other stuff is low.

[teejay53]

hi all and thank you for your answers,

i receive both dic and social security disability survivor benefit, i have no outside income other than these 2 items. i asked the social security and could not get a straight answer ... i am confused.

any help is greatly appreciated.

all have a nice day.

teejay

[Pete53]

Based on what you have listed you would only be taxed on SSD if your Income is over 24,000 from SSD and other sources and than only on 50%.

Most here who receive SSD and VA are not paying Federal Income tax and if you do it would be not very much.

Wish I could give you a better answer. It is still a good idea to either have someone help you and show the ropes or get a tac program like Tax Cut by H&R Block or the other one.

This is my opinion and I am sticking by it unless someone shows me a better way.

[teejay53]

my ssd would be $10,560.00 per year and i have no other income source except dic benefit. so i am assuming i would not be taxed.

thank you for your help.

teejay

---------------------------------------------------------------------------------------------------------------------------------------------------------------

Based on what you have listed you would only be taxed on SSD if your Income is over 24,000 from SSD and other sources and than only on 50%.

Most here who receive SSD and VA are not paying Federal Income tax and if you do it would be not very much.

Wish I could give you a better answer. It is still a good idea to either have someone help you and show the ropes or get a tac program like Tax Cut by H&R Block or the other one.

This is my opinion and I am sticking by it unless someone shows me a better way.

[john999]

Because of investments I made years ago I get some investment income. Sometimes that income pushes me into a category that triggers tax on part of my SSD benefits. However, with exemptions and deductions I still usually pay minimun tax or no tax. There will come a time when I will be taxed on my whole SSD since I have IRA's that will be drained one day. This will boost me into higher income bracket. I have a small disability pension from my old employer and that is taxable.