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I am 62 and have two adopted daughters I I collect my retirement for all of us I also good adoption subsidies does this need to be reported? Will it affect our benefits?

Forum|Forum|7 years ago
June 5, 2019
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I receive my retirement at 62 I have two adopted daughters that I get benefits for I also receive an Adoption Subsidy does this need to be claimed on my taxes and it will it affect our benefits for Social Security

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Best answer by TaxGuyBill

If you are receiving the Adoption Subsidy from a government agency, it is almost positively not taxable.

As such, it will not affect how your Social Security (or other retirement income) is taxed.

Only 'earned' income (from a job or self employment) potentially affect how much you receive for your early-retirement Social Security, so the Adoption Subsidy will not affect that either.

X

xmasbaby0

Employee

What retirement benefits are you receiving? Social Security or something else? Or SS and some other pension, etc.?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Critter

Employee

Ask the "adoption subsidy" payer if that is taxable and if you will be getting any kind of tax reporting form in January. Once you know the answer to that question your other question can be answered.

VolvoGirl

Employee

FYI - if your daughters get any SS in their own name and ssn you do not report it on your return. It would only go on their return if they have other income to report.

J

justmenroseAuthor

I am receiving my social security retirement for me and the girls but I was told because I get Adoption Subsidy from the state that it would affect the girls amount of Social Security not mine is this so

T

TaxGuyBillAnswer

Employee

If you are receiving the Adoption Subsidy from a government agency, it is almost positively not taxable.

As such, it will not affect how your Social Security (or other retirement income) is taxed.

Only 'earned' income (from a job or self employment) potentially affect how much you receive for your early-retirement Social Security, so the Adoption Subsidy will not affect that either.

J

justmenroseAuthor

I had heard that because the subsidy money is basically the girls. Because they get Social Security that it has to be claimed as income on their part not mine is this true