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Taxes


stony105

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  • HadIt.com Elder

VA compensation no taxes

VA Pension Yes

Social Security yes and no

Yes if your spouse makes a cartain amt of money. I think 30K per year ( SSDI 85 percent taxable)

No if it spouse income is below that threshold. I dont think so.

Hope this helps.

Basser

A Veteran is a person who served this country. Treat them with respect.

A Disabled Veteran is a person who served this country and bears the scars of that service regardless of when or where they served.

Treat them with the upmost respect. I do. Rejection is not a sign of failure. Failure is not an option, Medical opinions and evidence wins claims. Trust in others is a virtue but you take the T out of Trust and you are left with Rust so be wise about who you are dealing with.

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Well, somewhat correct, but ....

VA compensation no taxes Correct

VA Pension Yes Incorrect. No VA awards or benefits of any kind are taxable. Ref: IRS consumer guide Pub 525 Page 15 http://www.irs.gov/p...rs-pdf/p525.pdf

Social Security yes and no Prior to 1983, no Social Security benefits were taxable at all, for anybody. Currently, Supplemental Security Income (SSI) remains not taxable. However, "regular", that is, age-based, Social Security and Social Security Disability Insurance (SSDI) payments may be taxable. If the sum of one-half of all SS/SSDI payments plus the total of other income(s) is greater than $25k for a Single/HofH filer or more than $32k for MFJ, up to 85% of the SS/SSDI is taxable income. IRS consumer guide Pub 915 http://www.irs.gov/p...rs-pdf/p915.pdf discusses this in more depth (there are some other gotchas as well). FWIW, "other income(s)" means wages, self employment, interest/dividends/capital gains, rental income, gambling winnings, and "other".

For the OP .... if your ONLY income is any type of VA compensation and SS/SSDI, your SS benefits are not taxable and there prolly is no legal requirement to file a tax return. However, I have clients who want to file annual Federal and state tax returns "just in case". Whatever.

VA compensation no taxes

VA Pension Yes

Social Security yes and no

Yes if your spouse makes a cartain amt of money. I think 30K per year ( SSDI 85 percent taxable)

No if it spouse income is below that threshold. I dont think so.

Hope this helps.

Basser

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  • HadIt.com Elder

Really not taxes on pension there is not enough to even warrant filing a return

Veterans deserve real choice for their health care.

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