Social Security disability and rental property

Social Security disability and rental property

September 27, 2009 by admin

I did not see hard rules saying that if you have rental income you will be disqualified from Social Security disability benefits.

However, if you receive SSI, in general you must report all income and assets and these may definitely curtail your SSI benefit.

In general, if a Social Security form asks about your income, you will have to include rental income. To omit rental income may constitute fraus.

Your rental income may cause Social Security benefits to be taxed. Some people who get Social Security have to pay taxes on their benefits. About one-third of current beneficiaries pay taxes on their benefits. You will be affected only if you have substantial income in addition to your Social Security benefits.

* If you file a federal tax return as an "individual" and your income is more than $25,000, you have to pay taxes.

* If you file a joint return, you may have to pay taxes if you and your spouse have a combined income that is more than $32,000.

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