Question About Income & Tax Returns

Discussion in 'General Discussion' started by Dianne Aldridge, Jul 16, 2011.

  1. I'm just starting the A&A process for my 87 year-old Dad, a WWII vet. Dad worked until just a few months ago - he cut grass with a worker of his for over 20 years! He's a legend in his community; I'm so proud of him. Anyway, the business didn't make any money, it was really his retirement fun. We had to make transfers frequenly from his personal account to keep the business up and running.

    Question: Last year's tax return shows a gross adjusted income of a little over $14,000 - this includes is personal income (SS, Survivor Annuity, pension). Will the VA say this is too much and deny him? I just sold all of his landscaping equipment and so his bank statements are going to show about $7,000 paying off equipment loans. I also wrote the first check for his placement in an assisted living home from the business account, which may not have been a wise move. There is so much to learn! :)

    His total income now is $2,096 (SS, Survivor Annuity, pension) and, from my calculations, his countable income is -938!

    I'm wondering if I should wait until next year to file so that his current "real" numbers are considered...
  2. Fit2009

    Fit2009 Sr. Member

    they do not look at last year's tax return - depending on assets if he meets the medical criteria looks like he will qualify.
  3. Max

    Max Hero Member

    Fit is correct. This just means that when he is approved, he likely will not qualify for an earlier effective date (veterans who were over the age of 65 on Sep. 17, 2001 can qualify for one full year of extra benefits if their income/net worth meet the requirements for the year prior to their original application).
  4. Thank you both so much. VSR, can you please refer me to the information about eligibility requirements for that extra year of compensation? It won't hurt to look! :)
  5. Max

    Max Hero Member

    If the veteran was over the age of 65, in a nursing home, or deemed disabled by the Social Security Administration (SSA) on Sep. 17, 2001 and he/she are approved for pension benefits, he/she may be eligible for a year's worth of additional benefits if their income and expenses for the year prior to the date of receipt of their original application qualify him/her for benefits.


    Vet applies on March 20, 2011 for benefits and is approved. If the veteran's income/expenses for the period of March 20, 2010 through March 31, 2011 are within the income limits for that period, he/she can be approved for that period. This also applies to the additional allowance for aid and attendance.

    This regulation is explained in all award letters for veterans who may qualify for this additional benefit. This additional benefit is not available to the surviving spouse of a veteran.

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