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Old 01-30-2009, 06:22 AM   #1
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Taxes on childrens benefits.

I was approved for ssdi in May of 2006. Yesterday my son received back pay from 2006 through august 2008. Will this amount be taxable? Also if a child turns 18 while still in school, do they have to pay taxes on the benefits they receive until they graduate high school?

 
Old 01-30-2009, 09:25 AM   #2
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Re: Taxes on childrens benefits.

I would check with a tax professional on this. If I am not mistaken, if you make $25,000 or less a year the benefits are nontaxable. Again, check with a tax professional.

 
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Old 01-30-2009, 07:57 PM   #3
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Re: Taxes on childrens benefits.

Yes, I would check with a tax professional. The IRS distinguishes a difference between "earned" income and "unearned" income. "Earned" income is that from a job that one actually earns. Conversely, "unearned" income is income from investments, capital gains, disability income, and etc.

The threshold for paying taxes is lower on unearned income vs earned income. A tax attorney will have the exact cutoffs.

Regards,

Ex

 
Old 02-08-2009, 09:11 PM   #4
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Re: Taxes on childrens benefits.

I think I can help you with this one... I also recieved backpay for my child last year. My tax advisor told me yes I do have to pay taxes on MY backpay but not on my child's. My child turned 18 then 3 months later graduated and that didn't change the tax situation.........hope this was helpfull... take -care,

 
Old 02-08-2009, 09:14 PM   #5
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Re: Taxes on childrens benefits.

oops forgot to add..........my SS attorney told me that soon I should get some kind of form that I will have to state briefly how I spent the child's backpay ON THE CHILD... aka. food, clothes, new bed, school needs etc.....

 
Old 02-20-2009, 11:46 AM   #6
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Re: Taxes on childrens benefits.

we just did our taxes. none of my benefits (nor the money my daughter gets) were taxable since we made under 34,000 dollars. so we got a sizeable refund! finally!

 
Old 02-21-2009, 08:38 AM   #7
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Re: Taxes on childrens benefits.

Thanks for the reply. It does however seem to be somewhat confusing. My son received about 2 years of back pay. I will be seeing an accountant. Again,many thanks.

 
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