Results 1 to 2 of 2
  1. #1
    Join Date
    Sep 2011
    Location
    Oklahoma
    Posts
    232

    Default Are TTD Payments Taxable Income

    This is for federal and Oklahoma state taxes. Are Temporary Total Disabillity payments taxable income?

    I have been receiving TTD payments from worker's comp since September. I do not receive money from the federal or state gov't. I do not receive money from Social Security. I receive 70% of my gross weekly wage from worker's comp. My W2 from my job obviously does not include this money since Sept. I am having my taxes done next week. My wife seems to believe this is supposed to be taxed. She thinks I'm supposed to get a W2C from my work. She does payroll for a living so this is an area she thinks she knows but she keeps saying it's short term disability and I'm supposed to keep back my own taxes. I think maybe she's confused about how I'm being paid. I've read TTD isn't taxed because it isn't considered "earned income".

    So am I supposed to show the TTD payments as taxable income and pay taxes on it or not?

  2. #2
    Join Date
    Jul 2007
    Location
    Florida
    Posts
    1,851

    Default Re: Are TTD Payments Taxable Income

    Worker's comp benefits are not taxable.

    1. Sponsored Links
       

Similar Threads

  1. Federal Taxes: When Are Settlements Taxable Income
    By momm2500 in forum Tax Law
    Replies: 5
    Last Post: 06-26-2011, 09:29 PM
  2. Unemployment Benefits: What is Taxable Gross when You Report Income to EDD
    By Desertgal in forum Unemployment Insurance
    Replies: 11
    Last Post: 03-27-2011, 10:05 AM
  3. W-9 Taxable Income
    By rydg18 in forum Tax Law
    Replies: 2
    Last Post: 12-31-2009, 05:54 PM
  4. Can Taxable Income Be a Negative Number
    By mykail in forum Tax Law
    Replies: 5
    Last Post: 04-02-2009, 06:52 AM
  5. Chapter 7: 401(K) loans taxable income or discharged debt?
    By j couling in forum Bankruptcy Law
    Replies: 1
    Last Post: 04-07-2006, 04:11 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Free Tax Forms
Download free federal tax forms.




Untitled Document