2018 taxes

[Mamabug]

I finally started to work on our 2018 taxes today. I'm not done yet, but it looks like my Social Security disability benefits are taxed at a significantly higher rate in 2018 than in 2017. Last year, just less than 50% of the amount was taxable. This year, it's about 75%.

Has anyone else experienced this?

[gargantua]

I finally started to work on our 2018 taxes today. I'm not done yet, but it looks like my Social Security disability benefits are taxed at a significantly higher rate in 2018 than in 2017. Last year, just less than 50% of the amount was taxable. This year, it's about 75%.

Has anyone else experienced this?

OUCH Mama!

I'm not an accountant, but I do know there are more taxes being paid or deductions have been decreased on certain things. I can't deduct as many of my medical costs as I could last year but I don't know the percentage yet.

[Jules A]

I'm not sure about disability benefits but I have heard the lack of write offs is supposedly offset by a higher basic deduction? I haven't gotten mine back from the accountant but I think I liked all the deductions better.

[Mamabug]

I'm not sure about disability benefits but I have heard the lack of write offs is supposedly offset by a higher basic deduction? I haven't gotten mine back from the accountant but I think I liked all the deductions better.

Yeah; I'm not concerned about "write-offs". I don't itemize my deductions so they don't affect me. And, yes; there is a larger standard deduction this year.

That doesn't explain why my disability benefit is taxed at a much higher rate this year. An SSDI disability benefit is income. It's not a deduction.

[pennstater]

I know taxed at 50% when income is at a certain level. Did your husband's income go up some? If so, may have pushed you over that limit and taxed higher. If not, it could be that the change to deductions and eliminating personal exemptions left you with higher AGI and bumped into next tax bracket for SSDI disability rates. Or could be combo of both.


Ours are higher, but hard to determine since we itemized last year, but standard this year.

[pb909]

Just finished my taxes too.

Reviewing my year-over-year I do not see much difference with SSDI income.

Without more detail it's hard to tell but seems mine hasn't changed - my 2017 vs 2018 are about the same.

[Mamabug]

I know taxed at 50% when income is at a certain level. Did your husband's income go up some? If so, may have pushed you over that limit and taxed higher.

Thanks. I has assumed that the changes in this year's tax return were related to the 2018 tax reform. But I looked up taxation rates for SSDI benefits, and, although hubby's income only went up the usual, small annual amount, it was enough to push him into the next tax bracket.

[4boysmom]

Because the new law gave you more of your money during the year, we owed at the end of the year. luckily I had saved in anticipation of this. My over all tax from last year to this was about the same.

[Boudreaux]

Because the new law gave you more of your money during the year, we owed at the end of the year. luckily I had saved in anticipation of this. My over all tax from last year to this was about the same.

I think most ppl actually received more on their weekly checks that was previously withheld in taxes. That is the difference. Pay me now or pay me later.

[Jules A]

I think most ppl actually received more on their weekly checks that was previously withheld in taxes. That is the difference. Pay me now or pay me later.

I prefer it this way. I can't stand to think of anyone holding my money interest free.

[Boudreaux]

I prefer it this way. I can't stand to think of anyone holding my money interest free.

You can bet Uncle Sam is accruing interest.