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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Is My Tax Adviser Correct About My SSDI Benefits Being Taxed?
I am on SSDI and have master node and staking profit for the tax year of 2021 which I never cashed out of still sitting in my accounts. My tax advisor stated that since I made money in the staking and master nodes that 85 % of my ssdi may be taxed if the staking and master node I receicved is above a certain amount
I never heard of this before is she correct
Hi. My expertise is limited to Social Security benefits, not income taxes. However, I do know that up to 85% of the amount of any Social Security benefits you receive can be taxed as income if your income is high enough. For more information on the rules on taxation of Social Security benefits, refer to the following Social Security website: https://www.ssa.gov/benefits/retirement/planner/taxes.html.
Best, Jerry
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January 22, 2022