SSI
Do I have to pay taxes on my SSI?
Also we inherited a home from my mother in law and it’s paid in full and the deed is in our name.
We need to do some home repairs. What’s the best way to do this. We never owned a home before.
Terry Says
SSI benefits themselves are not taxable, but if you have other income you might be required to file.
But you also want to be aware of the “asset limitations” for people receiving SSI benefits. Thankfully, those do not include a residence. But if you borrow money on the home to make improvements, the very act of withdrawing the cash could actually make you ineligible for the SSI benefits!
Read this: https://www.ssa.gov/ssi/text-resources-ussi.htm
