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Lucy, Esq.
Lucy, Esq., Attorney
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what happens when somebody wins 10000 dollar and gets ssi

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what happens when somebody wins 10000 dollar and gets ssi

My name is XXXXX XXXXX I'd be happy to answer your questions today.

The $10,000 would likely prevent the person from receiving SSI in the month that it is received. After the first month, any portion of the $10,000 that is left will be considered an asset, which can affect a person's eligibility for SSI. A person collecting SSI is entitled to up to $2,000 in resources. A person who has more than the allowable amount of resources as of the beginning of the month will not receive benefits in that month. A person's home, car and household goods are not counted in that $2,000. So, for example, if I am collecting SSI and I win $10,000, but I have an $8,000 car loan, I won't get SSI in the month where I win the money, but if I use it to pay my car loan, I can continue to get SSI in future months.

Here is more information:

If the person does not report the $10,000, and Social Security finds out about it later, Social Security has the ability to terminate all payments as fraud, so it is important to inform them.

If you have any questions or concerns about what I've written, please reply so that I may address them. It's important to me that you are 100% satisfied with the service I provide. Otherwise, please rate my service positively so that I get credit for answering your question. Thank you.
Customer: replied 3 years ago.

I need to know exactly what is going to happen its very important that I know social security will be cut or not.

Customer: replied 3 years ago.

if the money does not belong to the person who gambled and won the money I mean she or he received money from somebody else and won the money and the wining money does not belong to her what is going to happen to her ssi

I apologize that I cannot tell you exactly what will happen, because you did not state what this hypothetical person intends to do with the money. I told you exactly how Social Security determines whether to cut benefits, which is directly responsive to the question that you asked.

1. SSI benefits are not available during the month that the $10,000 is received.

2. SSI benefits are not available during any month in which a person has more than $2,000 in assets, not including the items in the list I gave you. Clicking the link leads to additional information. If you need me to copy and paste it because you are unable to click the link, please reply and let me know. It's not relevant how the money was obtained, if the money is an available asset.

So, if the person receiving SSI keeps the $10,000 or puts it in the bank, she will not be entitled to SSI. This is because SSI is a need-based program, and a person who has $10,000 in the bank is presumed not to need government assistance. If that person puts it into an exempt asset such as a car or a home, then it is not considered when determining SSI eligibility. However, benefits will still not be paid in the month that the money is received. When the person's assets drop below $10,000, the person may once again become eligible for SSI benefits.

Please remember to leave a positive rating, because we do not get paid for our time unless or until a high rating is received. If you have any questions or concerns, reply without rating to ensure that I will see it and can respond.
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