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I retire in march of this year and I be receive disability

check from social security and...
I retire in march of this year and I be receive disability check from social security and my pension. I just wanted to know how that will effect me and wife taxes. She still works.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: what more information you need ?
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Answered in 3 minutes by:
11/16/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,986
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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No one pays federal income tax on more than 85 percent of his or her Social Security benefits based on Internal Revenue Service (IRS) rules. If you file a joint return, and you and your spouse have a combined income (this is half your SSA and or SSDI and all your other income like wages and pension) that is

  • between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
  • more than $44,000, up to 85 percent of your benefits may be taxable.

​There is no special rate of tax it is still taxed at your regular rate.

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If your disability is not SSDI tell me what kind and I can see if it is exempt.

Please let me know if you need more information.
If not then scroll up to see the STARS to rate so I am credited.

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Customer reply replied 28 days ago
IF I MAKE 2400.00 ON BOTH AND MY WIFE MAKE 12,500 A YEAR. WHAT WOULD THAT LOOK LIKE . WOULD I HAVE TO PAY ANYTHING BACK?

When you say "on both" do you mean that is the total of the 2 per month?

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Customer reply replied 28 days ago
THE TOTAL OF BOTH IS 4,800.

Thanks. and how about that pension amount? That needs ot be added into the calculation

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Customer reply replied 28 days ago
I GET 2400.00 FOR PENSION AND 2400.00 FROM MY DISABLITY AND MY WIFE MAKE 12,500 A YEAR.

AT least half of your SSA and SSDI will be taxable. That amount is added to your other income and taxable.

You would not have to pay any back because you are not working. Your spouse working does not count for how much SSA benefits you get.

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Customer reply replied 28 days ago
WILL I HAVE TO PAY ANYTHING BACK TO THE GOVERMENT?

No, based on what you have stated you would not have to pay any back. You may have a balance due when you file your tax return unless your wife had enough withheld.

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Customer reply replied 28 days ago
HOW MUCH TAXES SHOULD I TAKE IF ANY OUT OF MY PENSION AND DISABLILITY?

Give me second so I can do an estimate. That pretty much requires me doing a tax return for you..................

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Customer reply replied 28 days ago
OK

I am estimating around $4000 for total tax liability. Her withholding needs to be subtracted from that and that would be the amount owed (if any). That is if congress does not change anything for tax that effects the filing.

I hope this has been useful.

A positive 5 star rating is appreciated so I am credited for assisting.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,986
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,986
15,986 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

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