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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29973
Experience:  Taxes, Immigration, Labor Relations
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I am really confused. If I make $33,876.40 a year. $15,048.200

Customer Question

I am really confused. If I make $33,876.40 a year. $15,048.200 of that is a DIC I receive from the Federal Government because my husband died from Agent Orange in 1998. The amount is $1254.00 a month. The other two incomes are a Navy Federal Reserve Income and social security. I am 73 years old.
JA: The Accountant will know how to help. Anything else I can tell the Accountant before I connect you two?
Customer: I was told I did NOT have to pay taxes on the DIC from the Government. So that leaves $14,928.00 income.
JA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and connect you two.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
Dependency and Indemnity Compensation (DIC) is a tax free monetary benefit paid to eligible survivors of military Servicemembers who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or disease.
Expert:  Lev replied 1 year ago.
Please see for reference here official VA information - if ONLY other income is from social security - and you do not have any any other taxable income - your social security benefits are not taxable as well.Let me know if you need any clarification this matter..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.