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HOw do you determine that the retired () on disability

Customer Question
HOw do you determine that...
HOw do you determine that the retired (69) on disability pension is not taxable to the Feds. It is not taxable to the state. Issued on a 1099R
JA: The expert will know how to help. Please tell me more, so we can help you best.
Customer: He was a police officer injured on duty.
JA: Is there anything else important you think the expert should know?
Customer: no
Submitted: 6 months ago.Category: Tax
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Answered in 7 minutes by:
6/8/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 6 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,986
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi. My name's Lane. I can help with this.

...

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice since 1986.

...

It's possible that it's not. It will depend on his other TAXABLE income. Depending on the amount here, it COULD make some of the social security taxable.

...

You must pay taxes on your benefits if you file a federal tax return as an “individual” and your “PROVISIONAL INCOME” exceeds $25,000.

...

Your adjusted gross income
+ Nontaxable interest
+ ½ of your Social Security benefits
= Your "provisional income"

...

If it's NOT enough (the amount on the 1099-R) to make any of the Social Security taxable, then only the amount over the standard deduction($6,300 ) plus the personal exemption (4050) would be taxable

...

If you'd like to tell me the amounts of the social security and the amount of the 1099-R (and confirm that this is a single filer) I can run the numbers for you

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 6 months ago

Please let me know if you have ANY questions at all, before rating me.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

I hope that you’ll rate me based on my accuracy and thoroughness, rather than any good news/bad news content.

That’s the only way JustAnswer.com will credit me for the work here.

Thanks,

Lane

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,986
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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