Is getting a disability insurance monthly from social security taxable? do I need to report that to my tax agent during tax season?
was just wondering.. I have so far never asked for it from social security. I am still young and healthy; still working. I found out I have some funds available and it will be given to me if I claim it in the event I became disabled.
- A HunchLv 79 months agoFavourite answer
If you are working and healthy, you aren't eligible for disability.
Almost everyone who works has some SSDI available to them.
In the event that you are eligible and begin receiving SSDI, it depends on how much you receive. There is a portion that is non-taxable but if you exceed this amount, then it is taxable.
- Since you aren't receiving anything now from SSDI, there is nothing to report to your tax person.
- babyboomer1001Lv 79 months ago
Yes, it is taxable - it's income.
- Beverly SLv 79 months ago
If your only income is SS disability it's not taxable & you can't get any benefits from it.
- JudyLv 79 months ago
Not if it's your only income, and you are single or your spouse has no income. If you or a spouse has other income, it might be, depending on how much your total income is.
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- SlickterpLv 79 months ago
Not if it is your only income.
- Max HooplaLv 79 months ago
If you receive a Form 1099-SSA from Social Security you need to provide it to whomever prepares your tax return.