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Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
If you cash in stock and have a gain from the action that portion would be taxable to you. What sort of disability are you receiving?
The SSDI program does not put a limit on the amount of assets or unearned income you have (or income that your spouse may earn), unlike the low-income disability program, Supplemental Security Income (SSI).
While a disabled (nonblind) person applying for or receiving SSDI cannot earn more than $1,040 per month by working, a person collecting SSDI can have any amount of income from investments, interest, or a spouse's income.
It depends on the payer of your disability but if SS , then you would be fine.
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Im not sur how to answere that. I was diagnosed with inoperable brain stem tumor. Two yaers ago. Beating the odds. Thank god. Ive been on disability since november of 2011
I was asking if you were receiving a private payment or SS payments.
Glad to hear you are beating the odds though.
I am recieving SS. IF I were to break it down to a quartley payout would that be any different than a one time payout.
Let me pull up the SSA info on what is countable and what is not. One sec please..........
There is no requirement listed that says you must advise SSA of a sale of stock. The sale would not effect your disibility payments.
The SSA even states the following as not counted for earnings:
Gain or loss from the sale of capital assets, or sale, exchange, or conversion of other property that is not stock in trade nor considered inventory;
regardless of how many payments or amounts.
As long as this is not a trading activity that would be seen as a business then the payments would not be counted.
thank you for time and expertise. really need the income but cant risk disability.
You are most welcome. Your positive rating is always thanks enough.
Do not forget about your possible tax filing and reporting the sale.