Ask Experts Questions for FREE Help !
Ask
    frankie1010's Avatar
    frankie1010 Posts: 1, Reputation: 1
    New Member
     
    #1

    Apr 23, 2013, 06:34 PM
    Taxes on ssdi back pay
    I rec a tax free disability pension due to an injury from the nyc sanitation dept.
    I was just approved for ssd benefits to start in about 2-3 months and some back pay... due to the disabiltiy pension do I have to pay taxes ?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Apr 23, 2013, 08:35 PM
    It depends on how big of a lump sum you will receive, but, yes, you probably WILL owe some taxes.
    The Junoo's Avatar
    The Junoo Posts: 44, Reputation: 1
    Junior Member
     
    #3

    May 2, 2013, 08:10 PM
    I guess it depends; as long as you have ONLY the SSD benefits as your income, then it isn't taxable. If you have other taxable income, then it may become taxable.As you are approved for SSD benefits, your benefits may be taxable. You may find yourself with tax obligations if you have other sources of income besides your disability payment, or if your spouse earns a substantial income.If you file a federal tax return as an "individual" and your provisional income, MAGI , I mean is between $25K and $34K, you may have to pay income tax on 50 percent of yourSSD benefits. If your MAGI is above $34K, up to 85 percent of your SSD benefits is subject to income tax. If you are married and file a joint return, you may have to pay taxes on 50 percent of your benefits if you and your spouse have a combined income that is between $32K and $44K. If yourMAGI income is more than $44K, up to 85 percent of your SSD benefits is subject to income tax.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
     
    #4

    May 3, 2013, 01:43 AM
    If the retroactive check covers any months of 2012, that portion can be subtracted from your 2013 taxes.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

SSDI back pay [ 1 Answers ]

I applied for SSI only. Got it. Had it for 4 years and worked parttime and had enough credits finally for SSDI in Oct. 2011. However, for some reason they denied me the SSDI while still giving me the SSI. I appealed and won at judge level. Will I get SSDI back pay from Oct. 2011 to date or did SSI...

Do I pay taxes on back pay I just was awarded ssdi and will receive over 40,000.00 [ 2 Answers ]

I just received a favorable decision on my application for ssdi title 11 according to ssa I will receive over 40,000.00 I am single with no other income will I be exspected to pay taxes on it 0

Do I have to pay taxes on ssdi? [ 2 Answers ]

Do I have to pay taxes on ssdi for 2010?

Non custodial Parent's SSDI Back Pay [ 1 Answers ]

I have a court order against the non custodial parent and he now owes a sum of 50.000. I have not collected any child support in three years and we just recently went to court, where I was informed he was collecting SSDI, and that he protected my son and his other child on the ssdi app. Come to...

Can my ssdi back pay be taken cause I owe property taxes? [ 1 Answers ]

If my mortgage is in default, and I am doing a shot- sale to avoid foreclosure can they take my SSDI back payments cause I owe back property taxes?


View more questions Search