QUESTION
I am 56 and currently collecting private disability through a policy I funded in full. Do I have to pay taxes on my disability.?
Asked on Sep 27th, 2017 on Taxation - Georgia
More details to this question:
I have applied for SSDI but have not been approved. My monthly income is 3500.00.
1 ANSWER
4 Awards
If you have a disability policy that you paid for, whether your benefits are taxable depends on whether your policy was paid for with after-tax money or pre-tax money. If you aren't sure, my suggestion would be for you to find a good CPA and have them review the situation with you. Best wishes to you.
Answered on Sep 28th, 2017 at 5:10 AM
This answer is being provided as general information and not as legal advice. No attorney-client relationship is created by this answer.