SSDI aand taxes

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PostPosted: Tue Jan 27, 2015 9:43 am   Post subject: SSDI aand taxes  

I received SSDI back pay for $57,000, but had to pay back my LTD Insurance Company $32,000. Where do I deduct this on my taxes?


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mtlhd1955
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PostPosted: Sat Feb 07, 2015 8:38 pm   Post subject:   

Unless you paid income tax on your benefits from a personal disability income insurance policy -- which is highly unlikely -- there is nothing to deduct from your income tax. You simply owe the month to the insurance company because there is a provision in the policy that coordinates its benefit with that of the government. This is common to most DI policies.



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