Ask Larry

I'm selling my house and will be buying another in the three month time frame, My questions are, am I allowed to get things for the house like if it needs new flooring,hot water heater ect. for the house investing, if I have a bit left from the sell because homes are a bit cheaper?

Hi. Unless it's part of a trade or business that you operate, selling and buying houses or any other type of property has no impact on Social Security benefits. Nothing that you mentioned would have any adverse effect on your Social Security benefits if that's what you're receiving.

Social Security does administer a separate needs based program called Supplemental Security Income (SSI), and SSI benefits can potentially be affected by any change in a person's income or resources. If you're receiving SSI, there are too many variables that could be involved for me to be able to give you any kind of definitive answer to your question. You'll need to check with Social Security since they have access to your records.

Best, Jerry