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Will My Earnings In The First 3 Months Of 2018 Affect My Benefits If I Didn't Start Drawing Until November?
I started ss in nov of 2018. I earned 23000 in the first 3 months of 2018, but nothing after that. Will that affect my 2 months of ss in 2018 and is that gross or after deductions earnings that is used for the penalty? Thanks
Hi,
If you didn't work or earn more than $1420 in November or December of 2018, you could be paid for those 2 months regardless of how much you earned in the first part of the year (https://www.ssa.gov/planners/retire/rule.html). However, if you earned more than $17,040 in gross wages or net self-employment earnings in the year of 2018, you'll need to contact Social Security and file an annual report of your earnings (https://secure.ssa.gov/apps10/poms.nsf/lnx/0302510015). When you submit your annual report, you'll need to tell Social Security which months you earned less that $1420. Otherwise, they'll have no way of knowing that you earned less than $1420 in November and December.
Best, Jerry
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Posted:
February 1, 2019