Q. You’ve gone over tax rules for Social Security retirement payments. What about Social Security disability payments? Survivor benefits? Any difference in tax requirements?
A. The answer to this one is simple.
When we have discussed the taxation of Social Security benefits, we have usually discussed retirement benefits, as you said. But the rules are the same for all payments from Social Security.
“Social Security benefits include monthly retirement, survivor and disability benefits,” said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown. “So the taxation is the same for survivor and disability payments.”
Hope that helps!
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