Can I deduct repayments to a disability carrier?
2 posters
Page 1 of 1
Can I deduct repayments to a disability carrier?
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- Posts : 2
Join date : 2012-04-06
Deduct disability repayment?
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.
Similar topics
» Can I deduct repayments to a disability carrier?
» SSI and Disability
» SSI and VA DISABILITY PENSION
» SSI and Disability
» SSI and VA DISABILITY PENSION
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|
Thu Apr 19, 2012 10:34 pm by William D McConnaughy
» neighborhood association
Sat Apr 14, 2012 11:36 am by William D McConnaughy
» Claiming additional state tax on Federal Return
Wed Apr 11, 2012 7:14 pm by William D McConnaughy
» Can I deduct repayments to a disability carrier?
Sat Apr 07, 2012 8:52 pm by William D McConnaughy
» Can I deduct repayments to a disability carrier?
Fri Apr 06, 2012 2:07 am by Moljen5
» Criteria to be considered blind by the IRS
Sat Mar 24, 2012 5:16 am by William D McConnaughy
» Filing an amended return?
Sun Mar 18, 2012 2:19 pm by William D McConnaughy
» medical deductions
Tue Mar 13, 2012 1:56 am by William D McConnaughy
» Form 1120 Schedule K Line 13
Tue Mar 06, 2012 11:47 pm by William D McConnaughy