Money Matters
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Social security benefits for a minor
If a child is receiving social security payments for whatever reason, it that counted as income for the parents/guardians/household income?
Re: Social security benefits for a minor
It all depends.....some people file separate tax returns for their children. Others include it in their income. All depends on your income, the kids income, your tax situation. Etc....
http://www.irs.gov/publications/p17/ch11.html#en_US_2013_publink1000171909
Does the child have any additional income?
Is the SSA-1099 have the child's SSN on it, in the beneficiary box?
If no additional income, and has the child's SSN on it - not taxable and the child doesn't need to file a tax return.
You can run into some issues with if you can claim the child as a dependent. You need prove you still provide more than half of the child's financial support to claim the child as a dependent on your return.
Cancer sucks.