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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
What Earnings Count Under the Earnings Test?
If I sell an invention idea to a company, do I lose monthly SS benefits? Thank you, Nora.
Hi Nora,
Your question pertains to Social Security's Earnings Test, which ends once you reach full retirement age. Moreover, if you lose benefit X before full retirement age to the Earnings Test, benefit X will be bumped up at full retirement to credit you, on a full actuarial basis, for benefits lost due to the Earnings Test.
My sense is that the proceeds from the sale of an invention would count as self-employment income. Please read the first of the three horror stories discussed at http://www.pbs.org/newshour/making-sense/column-3-true-social-security-horror-stories/. The story is potentially very pertinent to your situation.
best, Larry
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June 17, 2016