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    DaniMani's Avatar
    DaniMani Posts: 1, Reputation: 1
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    #1

    Jan 25, 2014, 05:14 PM
    I received SSD lump sum payment, how much taxes % will the IRS want back
    I received my SSD lump sum payment after close to 3yrs waiting, now I am told I have to pay taxes on that lump sum of nearly 50K. What % do they want? The 50K is gone cause of all the money I borrowed from family and friends while waiting 3yrs to receive my SSD.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 25, 2014, 09:27 PM
    If the $50,000 is your ONLY income source, the tax should be about $5,062.
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