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Lev
Lev, Tax Advisor
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I will be receiving $278.00 a week unemployment from Jan. 2010

Resolved Question:

I will be receiving $278.00 a week unemployment from Jan. 2010 to Sept. 2010-taxes already being taken out- and $ 1167.00 a month from SSI from Feb. 2010 on. I will be 62 years old on Aug. 30 of this year. I am confused as to whether to have taxes deducted from my SSI or not. Can you help me?
Submitted: 4 years ago.
Category: Tax
Expert:  Lev replied 4 years ago.

HiCustomer Thank you for asking your question on JustAnswer.

By the way, it would help us to know:

-Please verify if you meant 2009 or 2010 tax year?
-Please confirm that your total unemployment benefits are $278 * 9 = $2502?
-Please also confirm that your social security benefits are $1167 * 11 = $12837? and that is not Supplemental Security Income (SSI) - correct?

 

The first $2400 of unemployment benefits are not taxable - so your only taxable unemployment benefits are $102

To determine if your social security income is taxable - following is the test -

half of your social security income plus other taxable income (if any) - if the total is less than $25,000 (for single) - none of your social security disability income is taxable.

Considering deductions - there should not be any tax liability.


So far - if above your only income - you would not have any tax liability and may want to file a tax return to have the withheld taxes refunded.

 

Thank you again for trusting us with your problem.

Let me know if you need any help or clarification.

 

Customer: replied 4 years ago.

Lev-

Please review my letter--the $278.00 is per week--not per month--@ $278.00

I am already having taxes taken out @ a rate of 10% per check. This will be for my

taxes for 2010. I am collecting social security on a deceased spouse --we were

married for ten years and then divorced.

Expert:  Lev replied 4 years ago.

Sorry for my mistake and appreciate your clarification.

 

So your estimated unemployment benefits will be $278 * 40 weeks = $11120

Taxable part will be $11120 - $2400 = $8720

Your estimated social security benefits are $1167 * 11 = $12837 - none of which should be taxable (based on the test above)

 

Thus - your adjusted gross income $8720

standard deduction $5700

personal exemption $3650

and none of your income will be taxable - you may ask to stop tax withholding from your unemployment benefits or file 2010 tax return at the tax time and request a refund.

 

You do not need any additional withholding form your social security benefits.

 

Let me know if you need any help or clarification.

 



Edited by LEV on 4/1/2010 at 6:09 PM EST
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 23251
Experience: Taxes, Immigration, Labor Relations
Lev and 5 other Tax Specialists are ready to help you
Customer: replied 4 years ago.

Dear Lev,

Thank you for all your help--now I know what to do from here-on-in.

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