How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask keeperumiami Your Own Question
keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 6108
Experience:  Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
Type Your Social Security Question Here...
keeperumiami is online now
A new question is answered every 9 seconds

I am on ssi disability and get $8724 I rent two rooms out

Customer Question

I am on ssi disability and get $8724 I rent two rooms out for 500 apiece totaling $ 12,000 ..I was told and have read that you divide your ssi by two and if your total is less than $25,00 that you would not have to pay income tax or file...what is right ?
Submitted: 2 months ago.
Category: Social Security
Expert:  keeperumiami replied 2 months ago.

Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

Expert:  keeperumiami replied 2 months ago.

You will not have to pay any income tax on your Social Security income, but you will have to file a tax return to report your rental income. You should have sufficient expenses to offset the gross rental income so that you will have no income tax to pay.

Expert:  keeperumiami replied 1 month ago.

Just checking in....................

I see that you had a chance to view my response to your question.

Do you have any follow-up questions, or can I be of any further assistance on this question?

If not, please remember to rate my response as that is the only way I will receive credit (payment) for responding to your question. Without a rating, I am not compensated.

There is no charge for providing me with a rating.

Thanks very much,

Steve G.

Related Social Security Questions