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Can I deduct repayments to a disability carrier? Image-5318266-10853752


Can I deduct repayments to a disability carrier? 576
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Can I deduct repayments to a disability carrier? EmptyThu Apr 19, 2012 10:34 pm by William D McConnaughy

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Can I deduct repayments to a disability carrier? EmptySat Apr 07, 2012 8:52 pm by William D McConnaughy

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Can I deduct repayments to a disability carrier? EmptyFri Apr 06, 2012 2:07 am by Moljen5

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Can I deduct repayments to a disability carrier? EmptySat Mar 24, 2012 5:16 am by William D McConnaughy

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Can I deduct repayments to a disability carrier? EmptyTue Mar 13, 2012 1:56 am by William D McConnaughy

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Can I deduct repayments to a disability carrier? EmptyTue Mar 06, 2012 11:47 pm by William D McConnaughy


Can I deduct repayments to a disability carrier?

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Can I deduct repayments to a disability carrier? Empty Can I deduct repayments to a disability carrier?

Post  Moljen5 Fri Apr 06, 2012 6:36 am

Can I deduct repayments made to my disability carrier to cover overpayments made when I started receiveing Social Security disability payments. I paid $2897.57 back to my disability carrier and $680.50 to their disability lawyers for handling my Social Security Claim. MY Social security benefits for Oct & Nov were received in Dec--I did not receive Dec until Jan as SSA pays a month behind. MY benefits from SSA show the $680.50 paid directly to the lawyers and $2041.50 paid to me. I repaid the $2897.57 in Jan --Feb of 2011-the legal fees were paid in Dec 2011 My questions are can I deduct any or all of these payments from my 2011 income including the legal fees and can I do it and still use the standard deduction and how do I do it

Moljen5

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Join date : 2012-04-06

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Can I deduct repayments to a disability carrier? Empty Deduct disability repayment?

Post  William D McConnaughy Sat Apr 07, 2012 8:52 pm

No, you can not deduct those repayments since the receipt of the disability payments should have resulted in nontaxable income. Likewise the legal fees since the funds in question were nontaxable.
William D McConnaughy
William D McConnaughy
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