Veterans' benefit not taxable
e-mail to a friend | print this | link to this
Contributed by: Douglas County on 3/16/2009
As veterans prepare their 2008 taxes, they will not want to include any veterans' benefits paid under any law, regulation or administrative practice administered by the Department of Veterans Affairs (VA) in their income as it is not taxable.
The following amounts paid to veterans or their families are not taxable: education, training and subsistence allowances; disability compensation and pension payments for disabilities paid either to veterans or their families; grants for homes designed for wheelchair living; grants for motor vehicles for veterans who lost their sight or the use of their limbs; veterans' insurance proceeds and dividends paid either to veterans or their beneficiaries, including the proceeds of a veteran's endowment policy paid before death; interest on insurance dividends left on deposit with the VA; benefits under a dependent-care assistance program; the death gratuity paid to a survivor of a member of the Armed Forces who died after Sept. 10, 2001; and payments made under the compensated work therapy program.
Veterans will not receive a 1099 or any other tax forms from the VA. For more information on taxes for the military, please visit www.irs.gov/individuals/military/index.html or contact the Douglas County Office of Veterans Affairs at 303-688-4825, ext. 5359.
Tuesday, March 17, 2009
Veterans' benefit not taxable
