Get New York State Department Of Taxation And Finance Disability Income Exclusion New York State

If your pension is taxable to New York and you are over the age of 59 ½ or turn 59 ½ during the tax year, you may qualify for a pension and annuity exclusion of up to $20,000. This exclusion from New York State taxable income applies to pension and annuity income included in your federal adjusted gross income.

A property tax break for disabled New Yorkers who own one-, two-, or three-family homes, condominiums, or cooperative apartments. Thanks to changes in city and state law, the DHE and SCHE (Senior Citizen Homeowners' Exemption) tax breaks are now available to homeowners with a combined annual income of $58,399 or less.

Unlike some states, the State of New York does not tax Social Security Disability Insurance benefits.

Your benefits may be taxable if the total of (1) one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than the base amount for your filing status.

New York disability benefits pay chart 2024 Average benefitMaximum benefit SSI $608.38 per month $943 per month SSDI $1,540.57 per month $3,822 per month State disability benefits 50% of your average weekly wage $170 per week Jan 12, 2024

Disability Income Exclusion Your disability income can be excluded of up to $20,000. You may exclude your disability income from your New York tax return if you meet ALL of the following tests: You received disability pay. You were not 65 when the tax year ended.

Social Security: It's tax-free in New York While the IRS may tax you on up to 85% of on Social Security benefits, all Social Security income is tax-free on your New York State income tax return —regardless of income or the size of your Social Security benefit.

Does New York tax Social Security benefits? No, but you may pay federal taxes on a portion of your Social Security benefits, depending on your income.