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Is post office disability taxable. The person is 75 years…

Customer Question
Is post office disability...

Is post office disability taxable

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

The person is 75 years old and has been drawing for 20yrs

Accountant's Assistant: Is there anything else important you think the Accountant should know?

She paid in to this pension and can't draw social security

Submitted: 29 days ago.Category: Tax
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Answered in 13 hours by:
3/29/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 28 days ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 867
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question. I can help you.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 28 days ago

Hi. If you paid the total premium on this disability policy using after-tax income, then your benefits will be tax free.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 28 days ago

If not, the payments you receive are taxable as a pension.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 28 days ago

Let me know if this helps and if you have any questions.

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