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SSI & taxes

Discussion in 'Social Security, Disability & Health' started by Marluna311, Feb 9, 2021.

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  1. Marluna311

    Marluna311 Law Topic Starter New Member

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    Hi,

    My daughter was recently approved for SSI. She was told she needs to pay me $x amount each month which I understand is taxable income to me.

    My question:
    do I just wait until tax time to figure out how much tax I owe or do I need to send in quarterly payments to the IRS? My only other income is social security retirement benefits.

    Thanks
     
  2. army judge

    army judge Super Moderator

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    You don't have to take a dime, if it ends up costing you $5.00.

    SS will simply pay another party, and you can do what you wish, not be forced to spend your GOLDEN YEARS doing for your adult child what you did 35 years ago when the kid was a toddler.

    Let someone younger do the work, if they need a buck.

    I retired after 31 years in the Army back in 1996.

    These days I enjoy my relaxed lifestyle and my do it next week or later attitude, no stress, no mess, just blissful days of nothing.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    That doesn't make sense. Told by who, and how much andwhy?

    The standard deduction for an individual for 2021 is $12,550 (a bit higher if you are 65 and older). Even if she pays you $1000 per month your taxes would probably be zero since your only other income is from social security retirement.
     
  4. Tax Counsel

    Tax Counsel Well-Known Member

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    What is it that you are providing that SSA requires her to pay out part of her benefits to you? And how old is your daughter?
     
  5. flyingron

    flyingron Well-Known Member

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    I suspect the poster is misconstruing the SSI policy that if someone is not paying a "fair share" of the housing costs then the SSI payment is reduced. It doesn't mandate that anything be paid, but it will permit it.

    See here: Understanding SSI - Living Arrangements
     
  6. Tax Counsel

    Tax Counsel Well-Known Member

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    That may indeed be the case, but I'd like to hear from the OP exactly what it is that she is providing to her daughter that the daughter is paying for and how old the child is. There is a specific reason for asking that in order to answer the OP's question.
     

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