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Roger, Attorney
Category: Legal
Satisfied Customers: 31692
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I am 62 and applied for early SS benefits and was denied 2

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I am 62 and applied for early SS benefits and was denied 2 weeks ago. My husband is self employed, incorporated and I am 50% owner of his business. The basis for the denial was my profit shares of 50% of business income ($15- $30K on K1) and some 401K income. I consider this passive income although I do receive $3K annual salary and $3K S Corp dividend for my office work and some 401K income. When I retired from my full time job of 22 years at American Airlines 3 months ago, I expected SS benefits. Should my passive income from my husbands work and my 401K benefits from his work cause me to be denied SS benefits until he quits working or I reach 66 years?
Submitted: 6 years ago.
Category: Legal
Expert:  Roger replied 6 years ago.

Hi - my name is XXXXX XXXXX I'm a litigation attorney here to assist you.


The key to passive income is that it takes no work to generate the income. Income from a business you own is not passive income - even if you don't work full time, the money is a result of your business endeavors, making it non-passive income.



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