How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask lev-tax Your Own Question
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Social Security Question Here...
lev-tax is online now
A new question is answered every 9 seconds

I am 62, my husband is 65 as of 4/29/2016. If he files and

Customer Question

I am 62, my husband is 65 as of 4/29/2016. If he files and suspends today what would be my spousal benefits income be. At 65 My husband would get 2100/month . If I took benefits ,now I would get 1450$ per month. do I get 1/2 of his spousal benefits at 1050$ while continuing to work and not collect my own benefits? or do I get the difference between his benefit and what I would have received if I took my benefits now?
In other words would I get the full 1/2 spousal benefit of 1050$ or the difference of 2100-1450 to equal only 650$/month while i work?
Does my husband have to be 66 as of 4/29/2016 or can he qualify to file and suspend with birth year 1951
If he files and suspends, is he required to wait til 70 to receive his benefits or can he reverse that sooner
Submitted: 7 months ago.
Category: Social Security
Expert:  lev-tax replied 7 months ago.
If he files and suspends today what would be my spousal benefits income be?Your benefits will be based on 50% of your spouse's benefits at his full retirement age - that is 66.Then - your benefits are reduced because you starting earlier - the reduction will be 30%.So - assuming his benefits will be 2100/month.than - take 50% of that amount as spousal benefits - 1050/monthand further reduction because you are starting at 62 - $735 - that would be your spousal benefits if you start now.
Expert:  lev-tax replied 7 months ago.
do I get 1/2 of his spousal benefits at 1050$ while continuing to work and not collect my own benefits?First of all - your spousal benefits will be reduced as you are below your FRA - full retirement age that is 66.Second - as you are below your FRA - you may not choose to take spousal benefits only and delay yours.That option is only allowed for those who reach the FRA.If he files and suspends, is he required to wait til 70 to receive his benefits or can he reverse that soonerHe may file and suspend - that is OK.He may resume any time - that is OK.Prior law allowed to resume retroactively - that is eliminated - and he may only resume from next month.If he will not resume - his benefits will automatically started at age 70..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.