Accountant Forums


Reply
Thread Tools

Filing seperately and medicaid

 
 
Bill
Guest
Posts: n/a
Thanked:
 
      06-29-2005, 04:12 PM
My pension and social security and my wife' social security
total enough to get some of her medications much cheaper via
programs. However, if our income increases, she will lose
that benefit.

Previously, our high cost of medications forced us into
bankruptcy.

My question: can we file separately, and as such, with her
small social security, could she could qualify for Medicaid?

Bill

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
 
 
 
Arthur Kamlet
Guest
Posts: n/a
Thanked:
 
      07-01-2005, 02:57 AM
Bill <(E-Mail Removed)> wrote:

> My pension and social security and my wife' social security
> total enough to get some of her medications much cheaper via
> programs. However, if our income increases, she will lose
> that benefit.
>
> Previously, our high cost of medications forced us into
> bankruptcy.
>
> My question: can we file separately, and as such, with her
> small social security, could she could qualify for Medicaid?


I can't answer the medicaid question. But if you lived
together at all during the year, and file separately, 85% of
social secuity will be included as part of taxable income.
Perhaps no social security is presently included, on your
joint return, as part of taxable income?

__
Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
 
 
 
Herb Smith
Guest
Posts: n/a
Thanked:
 
      07-01-2005, 03:35 AM
Bill wrote:

> My pension and social security and my wife' social security
> total enough to get some of her medications much cheaper via
> programs. However, if our income increases, she will lose
> that benefit.
>
> Previously, our high cost of medications forced us into
> bankruptcy.
>
> My question: can we file separately, and as such, with her
> small social security, could she could qualify for Medicaid?


If you file Married Filing Separately, 85% of your (and your
spouse's) SS benefits will be subject to income tax -
regardless of your other income. Are you sure that is a
result you want to happen?

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
D.F. Manno
Guest
Posts: n/a
Thanked:
 
      07-01-2005, 03:54 AM
Bill <(E-Mail Removed)> wrote:

> My pension and social security and my wife' social security
> total enough to get some of her medications much cheaper via
> programs. However, if our income increases, she will lose
> that benefit.
>
> Previously, our high cost of medications forced us into
> bankruptcy.
>
> My question: can we file separately, and as such, with her
> small social security, could she could qualify for Medicaid?


Filing separately won't help. As long as the two of you are
living together both incomes will be taken into
consideration for Medicaid eligibility purposes.

--
D.F. Manno
(E-Mail Removed)
"The work goes on, the cause endures, the hope still lives
and the dream will never die."

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
A.G. Kalman
Guest
Posts: n/a
Thanked:
 
      07-01-2005, 03:54 AM
Bill wrote:

> My pension and social security and my wife' social security
> total enough to get some of her medications much cheaper via
> programs. However, if our income increases, she will lose
> that benefit.
>
> Previously, our high cost of medications forced us into
> bankruptcy.
>
> My question: can we file separately, and as such, with her
> small social security, could she could qualify for Medicaid?


How you file your tax returns (joint or separate) has no
impact on medicaid qualification. The medicaid rules
require that one look at countable community assets and
countable community income.

--
Alan
http://taxtopics.net

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
A.G. Kalman
Guest
Posts: n/a
Thanked:
 
      07-01-2005, 03:54 AM
Bill wrote:

> My pension and social security and my wife' social security
> total enough to get some of her medications much cheaper via
> programs. However, if our income increases, she will lose
> that benefit.
>
> Previously, our high cost of medications forced us into
> bankruptcy.
>
> My question: can we file separately, and as such, with her
> small social security, could she could qualify for Medicaid?


How you file your tax returns (joint or separate) has no
impact on medicaid qualification. The medicaid rules
require that one look at countable community assets and
countable community income.

--
Alan
http://taxtopics.net

<< ================================================== ===== >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< It may not be relied upon for the purpose of avoiding >>
<< penalties that may be imposed on the taxpayer or the >>
<< tax preparer. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ================================================== ===== >>
 
Reply With Quote
 
 
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Filing Seperately Vs Filing Jointly Bob La Londe US Taxes 1 11-02-2006 03:46 PM
Re: Married filing seperately but may leave SSN blank on 1040 Frank Tax 3 01-12-2006 04:29 PM
Married Filing Seperately Questions David Tax 2 03-18-2005 12:07 PM
Please help: Status married filing seperately news Tax 1 04-18-2004 03:53 PM
NYS Nonresident married filing seperately Rak Tax 5 10-28-2003 02:42 PM


All times are GMT. The time now is 03:28 AM.
Posts in this forum do not constitute the advice of AccountantForums.com or its members. Financial advice should always be taken from qualified advisors before committing to a financial decision.