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If a divorced man is retired at 60 and has a 17 year old…

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If a divorced man...

If a divorced man is retired at 60 and has a 17 year old child who is receiving a SSA-1099 as family benefits for the child. It is in his name. Are those benefits taxable to him, the child or not at all.

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

Her SSA-1099 is for approximately $30,000. His retirement is from UPS (early retirement) and has retirement benefits for approximately $34000.

Submitted: 4 months ago.Category: Tax
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3/21/2018
Tax Professional: Tax.appeal.168, Tax Accountant replied 4 months ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Tax Professional: Tax.appeal.168, Tax Accountant replied 4 months ago

The benefits are not taxable to the taxpayer and if the social security benefits is the only income the child receives, no it is not taxable to the child either. On the other hand, if the child has other income, a part of the social security is taxable. SEE BELOW:

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When Benefits are Taxable

A child who receives only Social Security benefits and no other income probably won't owe taxes on the benefits. You don't include the parent's Social Security benefits when calculating the child's income unless those benefits are expressly intended for the child. The child's benefits might be taxable if other income, such as employment or interest income, increases the child's total income. The child will receive Form SSA-1099 showing the total Social Security income received for the tax year. He should also receive other reporting forms for the tax year if he received additional income.

REFERENCE SOURCE:

https://www.sapling.com/5394251/social-security-benefits-children-taxable

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