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by paullovesheather on April 3rd, 2008

paullovesheather

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If someone gets social security money from someone else, is that money tax-exempt?

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Answers. 1 helpful answer below.

  • by bruceytom on April 5th, 2008

    bruceytom

    I'm not an accountant or tax attorney, but i suggest that your question is much too broad to answer. You do well to ask a tax person. The IRS will tell you for free, though some people hesitate to talk to them. Of course, you will need to give some details of your situation.

    There are laws regarding tax on gifts. If this is the case, it matters not whether the gift is from SS or another source.

    If you are getting SS because you are related to someone who qualifies (minors and other dependents sometimes get such payments), it's likely not taxable, but be sure to talk to a qualified tax person. This is not an area where you want to guess or take an "ordinary" person's opinion. Talk to someone directly so that this one can ask you the right questions.

    There are just too many variables. Get qualified help.

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