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Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 11350
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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My brother bought something from me and my account went up

Customer Question

my brother bought something from me and my account went up to 2048 dollars. i quickly paid off something else which brought it back down to 1100, but im concerned i won't get my june check because of the deposit or that i had more than 2000 in my account for an hour.. Just wondering if i have anything to be concerned about, and if they flag those type of things? thankyou
Submitted: 11 months ago.
Category: Social Security
Expert:  Lane replied 11 months ago.
Hi Rick,...No, it's where you don't use the money in the same month, that you can have a problem...See this from SSA:..."If the value of your resources that we count is over the allowable limit at the beginning of the month, you cannot receive SSI for that month."...You'll see this over and over as the rule in their explanation of various situations (selling property, getting a loan and not using it up in the same month, etc.
Expert:  Lane replied 11 months ago.
you can read more about this here: hope this has helped....Please let me know if you have any questions at all....If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the faces or stars on your screen, and then clicking “submit”)…I receive no crediting at all unless you rate in this way....Thank you!Lane……I hold a law degree (JD, Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security/Medicare, estate, corporate, both for-profit and non-profit, and tax advice, since 1986