Medical disability

Forum|Forum|1 year ago
July 31, 2024
3 replies
0 views

Must I file taxes while unemployed? I am on medical disability with minimal snap food benefits which have been drastically reduced as a result of the disability. My health insurance was also vastly affected. Medicaid with Medicare now and my own health insurance? I now have to pay for an advantage plan is that right? And pay copays and rx costs. I am unemployed with a daughter who is a dependent and receives non court ordered minimal child support. Must I file taxes and what are possible credits available for my situation?

Ask the Experts - Dependents - July 2024

Best answer by DashonnonH

It depends on if you or your employer paid the disability insurance premiums that you are receiving the $1834/mo from.

If you paid the entire premium, the disability payments are not taxable. If your employer paid, then the payments are taxable. If the payments were shared, then the payment are partially taxable.

Please see link below for additional information

https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds/life-insurance-disability-insurance-proceeds-1

DoninGA

Employee

Do you receive any type of income? Such as Unemployment Compensation from your state or Social Security Disability benefits?

If you receive no income of any kind and you do not have health insurance through one of the State Marketplace Exchanges or from healthcare.gov where you would have received a Form 1095-A, then you do not need to file a tax return.

Courbois3Author

I do receive medical disability benefits ($1834/mo)

Also Snap food benefits ($23/mo)

Medicare with medicaid with Kaiser permanente. Copays often.

DashonnonHAnswer

It depends on if you or your employer paid the disability insurance premiums that you are receiving the $1834/mo from.

If you paid the entire premium, the disability payments are not taxable. If your employer paid, then the payments are taxable. If the payments were shared, then the payment are partially taxable.

Please see link below for additional information

https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds/life-insurance-disability-insurance-proceeds-1

DashonnonH

Tax credits are calculated the income earned or amount of tax you must pay (tax liability). If you do not have any earned income or income that produce tax liability, it's unlikely that you would not qualify for any tax credits.