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Taxes on Disability?

Discussion in 'Social Security / Disability Benefits' started by Jenkay, May 24, 2008.

  1. Jenkay

    Jenkay Jen

    I'm currently receiving long term disability through insurance from my previous employer and have filed for SSD.

    My LTD payments are not taxed as I paid for the premiums with after tax dollars.

    I heard today that when I file my taxes next year I'll need to pay tax on any payments I receive from disability payment if our family makes over 32,000.

    For those of you on private or social security disability can you tell me what you have experienced at tax time?

    Thanks, I just want to be prepared for tax time next year as this is my first time on disability.

  2. lazylegs

    lazylegs Moderator

    Hi Jen,

    I never had private disability. On the social security disability I had to pay on 85% of it. The tax forms provide a sheet to calculate what portion you will have to pay on. You can go to the IRS website to see a sample of how it was calculated for 2007.

    Take care,
  3. Tom

    Tom Old Timer**&p_li=&p_topview=1

    I get private disability and have to pay taxes on it. :( Sad isn't it?
  4. Jirel

    Jirel Registered

    Tom, is this saying that if you have SSDI and you also have private insurance and the two together total over $25,000 a year, then even if the private insurance came out of after tax dollars, you must pay taxes on the SSDI? If you don't have the answer because that's not your situation, I understand. I just thought I would take the chance that you might know.

    Thank you in advance.
  5. Jenkay

    Jenkay Jen

    Wow, thanks for the information, I guess I have some financial planning to do!


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