I have already filed my taxes and then I received a W2 from my long term disability. I had to pay my insurance premiums out of pocket from the money I received. Im not sure if this is taxable income or not. Do I need to file an amendment? Is my long term disability taxable income or not?
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It depends. If you paid the premiums with pre-tax money, long-term disability payments are taxable. If you paid the premiums with after-tax money, it's’ not taxable.
Refer to the IRS website Long-term disability FAQ for additional information.
Since you have already submitted your tax return, wait until you receive an email informing you that it is accepted or rejected. Don't make any changes while your tax return is pending.
If your tax return is rejected, you may sign in to TurboTax and add your W-2 along with fixing the rejection. If your tax return is accepted, once it’s processed, you can file an amendment through TurboTax using Form 1040-X. adding your income.
For further information review the TurboTax articles: How to Correct Federal Tax Returns and Video: How to Amend Your Tax Return.
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