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keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 7195
Experience:  Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
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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: 1 year ago.
Category: Social Security
Expert:  keeperumiami replied 1 year 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 1 year 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 year ago.

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