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 Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29966
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

I am on a disability pension total and permanent disability

Customer Question

I am on a disability pension for a total and permanent disability from the Ohio Public Employees Retirement system . I received 52000 dollars for 2015 , which included 1 year of back disability payments . This is the only retirement system I have , outside of a very small amount os Social Security I will receive at age 65. Approximately how much will I owe in Federal taxes for 2015 ?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

If your 2015 taxable income is $52,000 - assuming you are single, standard deduction, below 65, no dependents and no other deduction or credits,

Expert:  Lev replied 1 year ago.

Your estimated federal income tax liability is approximately $6200

The issue is that your social security benefits will be partially taxable and that might slightly increase your tax liability.

Please be sure that you requested income taxes to be withheld from your payments.

I appreciate if you take a moment to rate the answer.
Experts are ONLY credited when answers are rated positively.
If you still have any doubts, need clarification - please be sure to ask.
I am here to help you with all tax related issues.