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Old 08-06-2008, 05:00 PM   #1
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what happens to my ssd if i get an inheritance

what happens to my ssd if i get an inheritance

 
Old 08-07-2008, 04:43 AM   #2
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Re: what happens to my ssd if i get an inheritance

Nothing happens. It doesn't matter how much money you have. Social security disability does not go on income. That would be SSI.

 
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Old 08-09-2008, 07:55 AM   #3
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Executor HB UserExecutor HB UserExecutor HB UserExecutor HB UserExecutor HB UserExecutor HB User
Re: what happens to my ssd if i get an inheritance

Disability is only concerned on what the IRS calls "earned income", meaning you went out and earned it. Conversely, "unearned income" are such things as investments, stock options, capital gains, & etc. Your question falls into this bucket as well.

What you should be aware of, however, is that any type of income will generate a W2 or 1099. Then, when you file your taxes, your social security # will ultimately be cross checked and you will come up as a red flag. This happened to me recently when I sold some stock options. I just answered SS's inquiry via a letter and explained what happened....I also sent a copy of my taxes and stock option transaction.

Good luck,

Ex

 
Old 08-09-2008, 07:37 PM   #4
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Re: what happens to my ssd if i get an inheritance

Interesting. I have been on SSDI for 2 years. For each of those two years I sold large stock holdings. I did get 1099's both times and did file income tax but I heard nothing from SS about it.
I hope it stays that way.

 
Old 08-09-2008, 08:48 PM   #5
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Re: what happens to my ssd if i get an inheritance

Quote:
Originally Posted by ellemae11 View Post
Interesting. I have been on SSDI for 2 years. For each of those two years I sold large stock holdings. I did get 1099's both times and did file income tax but I heard nothing from SS about it.
I hope it stays that way.
It took about 2-3 years for my "audit" (for lack of a better word) to pop up. I think SS does periodic cross checks of one's social to the IRS. They simply send a form letter that says the "system" shows tax income of such and such and for you to reply with an explanation. Not really a big deal, but a hassle nevertheless.

Regards,

Ex

 
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