Announcement

Collapse
No announcement yet.

Those on SSDI, how do you do your taxes?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Those on SSDI, how do you do your taxes?

    I just got my statement for SSDI for 2008. What am I supposed to do with it? They didnt take out any taxes, so I am not going to get anything back, but I want to turn in something so that I can pick up the next round of "rebate" checks or whatever free money the gov't wants to throw my direction.

    So do those of you who get SSDI (that's all my income) fill out a 1040?

    Thanks,

    funk

    #2
    Yes, I fill out an income tax specifically so that I will get the rebate when it is offered. You won't have to pay anything because your SSDI is not taxable, but it puts you in the system to get your stimulus check.

    Comment


      #3
      Funklab, this past year was the first year that I've had SSDI. I didn't have any money withheld from my check either. I'm a little bit afraid that I might end up owing money. I'll be interested to know what others say about this.
      "The truth will set you free. But first, it will piss you off." -Gloria Steinem

      Comment


        #4
        Danine,
        SSDI is not taxable. If that is the only income you get don't worry about it. The only reason you would pay taxes is if you have other interest from things like stocks, bonds, certificate of deposits, and so on. Something relatively minor, like the interest in a checking account (assuming there aren't VERY big bucks in there) would not push you ove the limit, which I believe is $25,000 per year before you would need to file.

        Comment


          #5
          The theory is that if you are on SSDI you already paid taxes on that money when you were earning it, so to tax it again now that you are taking it out of the system would be a sort of double taxation.

          Comment


            #6
            Originally posted by Eileen View Post
            Danine,
            SSDI is not taxable. If that is the only income you get don't worry about it. The only reason you would pay taxes is if you have other interest from things like stocks, bonds, certificate of deposits, and so on. Something relatively minor, like the interest in a checking account (assuming there aren't VERY big bucks in there) would not push you ove the limit, which I believe is $25,000 per year before you would need to file.
            Originally posted by Eileen View Post
            The theory is that if you are on SSDI you already paid taxes on that money when you were earning it, so to tax it again now that you are taking it out of the system would be a sort of double taxation.
            Thanks Eileen...finally, our government does something that makes sense!
            "The truth will set you free. But first, it will piss you off." -Gloria Steinem

            Comment


              #7
              I take mine up to the senior center and they have some ppl come in and do them for free. They allow disabled also, they have been a big help for me.
              When you file make sure that you are filling out the paper that is red on top. It lets them know it is a disability return.

              Eileen is corect they can not tax SSDI.

              Comment


                #8
                R U SHITTING ME??

                SSDI ISN'T TAXABLE???

                Holy shit! I need to speak with my accountant!
                And the truth shall set you free.

                Comment


                  #9
                  Danine, You will still want to file so that you will get the stimulus check when they come out, but you don't have to worry about paying anything in taxes on the SSDI that you have received.

                  No Decaf......or a new accountant?

                  Comment


                    #10
                    It's taxable if your income is over some number near 25,000. If you have other income you will have to pay taxes on it. of course if your earned income is over 12,480 you aren't allowed to get SSDI so it should never be an issue. Unearned income that's another story.
                    If you can't handle me at my worst, then you sure as hell don't deserve me at my best.


                    Sometimes it is easier to widen doors than it is to open minds.

                    Comment


                      #11
                      What about caretaker money? Is that money taxable?

                      Comment


                        #12
                        Joe Decaf ....

                        Part of my ssdi is taxable, b/c I file jointly, and b/c of my husbands salary there is a formula to calculate how much of my ssdi is taxable, and how much is not.
                        T7-8 since Feb 2005

                        Comment


                          #13
                          Originally posted by sjean423 View Post
                          Joe Decaf ....

                          Part of my ssdi is taxable, b/c I file jointly, and b/c of my husbands salary there is a formula to calculate how much of my ssdi is taxable, and how much is not.
                          he must make alot
                          Bike-on.com rep
                          John@bike-on.com
                          c4/5 inc funtioning c6. 28 yrs post.
                          sponsored handcycle racer

                          Comment


                            #14
                            Not really, but it triggers that a percentage of my ssdi is taxable, and the rest is not.

                            Last year it was joint income over $32,000. (Single over $25,000 as said above, but if you are getting ssdi, and filing single, it would be mostky unearned (investment) income.)

                            If we filed separately, my ssdi would be untaxed, but we would lose out in a lot of other ways, that filing jointly is the better choice for us.

                            To the OP, there are a lot of free online tax programs out there if you have a simple return.

                            I have used this one before, with no problems.
                            http://turbotax.intuit.com/taxfreedom/
                            Last edited by sjean423; 27 Jan 2009, 4:13 PM.
                            T7-8 since Feb 2005

                            Comment


                              #15
                              huh, never seen that b4 and i have done taxes on the side for 10 years. interesting
                              Bike-on.com rep
                              John@bike-on.com
                              c4/5 inc funtioning c6. 28 yrs post.
                              sponsored handcycle racer

                              Comment

                              Working...
                              X