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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.
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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.
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