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ssi and investment property

Started by husker71, August 12, 2014, 01:02:16 pm

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husker71

I had a friend tell me the other day that money in (rent)  from property is not counted in your ceiling for under 65 social security.   I am not ready for ssi yet but coming up fast.  Does anyone know the answer to this??

HawgWild


 

hog.goblin

Quote from: husker71 on August 12, 2014, 01:02:16 pm
I had a friend tell me the other day that money in (rent)  from property is not counted in your ceiling for under 65 social security.   I am not ready for ssi yet but coming up fast.  Does anyone know the answer to this??

Do you mean to refer to SSI or soc sec retirement benefits?

husker71

I am sorry   I meant my social security retirement benefits.  I am thinking of taking them at 62 instead of 65 or higher

hog.goblin

Totally different.

Rent income won't cause your benefits to be repaid (like wages can), but they can cause them to be subject to income tax.  Very complex rules on the calculation.  I can explain if interested.