What would you like to do?

Is long term disability income taxable?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

With Disability insurance, the taxation of benefits is based on how the premiums were paid. If the premiums are tax deducted, then benefits will be taxable as ordinary income. However, if the premiums were not tax deducted (meaning paid with after-tax dollars), the benefits will not be subject to income tax.
2 people found this useful
Thanks for the feedback!

What is taxable income?

Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. Generally, t

Are long term disability payments taxable?

  Answer   Not if you were paying for your own policy yourself. Tax free benefit. 4lifeguild Maybe.  Disability payments can considered to be partially or fully

If you receive Disability Income from a Long Term Disability Insurance Policy can creditors garnish the monthly income from this policy?

    The answer to your question is yes. If creditors can garnish your wages if you were working, then they can garnish the income you receive from your disability prov

Is short term disability income taxable?

  The taxable status of short term disability depends upon how you pay the premium. If you pay for short term disability at work via pre-tax deductions, the benefit will

How long is short term disability?

Short term disability policies offer a variety of benefit periods (how long the benefit lasts): 3, 6,12, and 24 month benefit period options are very common.    Check y

Can you get on long term disability if you have Fibromyalgia?

Fibromyalgia can be or become a very serious issue over time, specially if not properly treated. It is a condition that insurance companies do not want to insure on an individ

Canada short term disability is it taxable income?

If you are referring to Short-Term Disability Insurance, it is taxable if your employer made the contribution, and not taxable if you made the contribution. This is because it

Is disability insurance taxable income?

Determining if the benefits are taxable depend supon whether the premiums were paid before or after taxes. If before taxes, the disability income you receive is taxable. If yo