topic On my disability pay stub i have oasdi, mdcr, fit, and state deductions why? in Get your taxes done using TurboTax

On my disability pay stub i have oasdi, mdcr, fit, and state deductions why?

olopezj — Sat, 01 Jun 2019 00:54:37 GMT

What are these deductibles?

Well oasdi is FICA for SS & Medicare tax fit is federal i...

VolvoGirl — Sat, 01 Jun 2019 00:54:39 GMT

Well oasdi is FICA for SS & Medicare tax
fit is federal income tax withholding. You get credit on your tax return for it.

Sounds like you will get a W2 at the end of the year for it and you enter it in as wages. Check with your employer or disability plan.

mdcr = Medicare tax fit = Federal Income Tax

SweetieJean — Sat, 01 Jun 2019 00:54:41 GMT

mdcr = Medicare tax
fit = Federal Income Tax

Disability pay is taxable if the disability policy was pa...

Opus 17 — Sat, 01 Jun 2019 00:54:43 GMT

Disability pay is taxable if the disability policy was paid for by your employer as an employee benefit. You are having taxes withheld as if it was a paycheck for working, and you should expect to get a W-2 at the end of the year and file a tax return reporting this as taxable income as if it was from working.

If you had a private disability policy that you paid for out-of-pocket (after tax, not as a pre-tax payroll deduction) then it should not be taxable and you should contact the insurance company.