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| *Ostroff, Fair and Company>>>United States Taxes |
$11,000 that was given to me by the govt bc of money that was owed to my father for disability, is it taxable? |
$11,000 that was given to me by the govt bc of money that was owed to my father for disability, is it taxable? As your fathers dependant at the time of his disability you were eligilble for SSI payments.. SSI is not taxable to you. Supplemental security income (SSI) payments. Social security benefits do not include SSI payments, which are not taxable. Do not include these payments in your income. Now that your father is collecting SSD, those payments may be taxable to him based on whether he had any other income see publication 915 to determine if any of your fathers SSD is taxable http://www.irs.gov/publications/p915/ind... If your father is still alive and the money will go to him, maybe it is not taxable. If not, it is a matter of inheritance but in that case why should the government give that money to you in the first instance as it doesn't seem to benefit the real beneficiary who may be non-existent! |
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