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PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4677
Experience:  35 years tax and professional advice in all matters money
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I won some $2047.35 up at Blackhawk Casino After I paid

Customer Question

Hi I won some $2047.35 up at Blackhawk Casino
After I paid the taxes I received about $1395
Will I lose my social security benefit's
Because I really do need it
Submitted: 2 years ago.
Category: Social Security
Expert:  PDtax replied 2 years ago.
Hi from Just Answer. I'mCustomer and can assist. Gambling winnings will not reduce regular social security or social security disability benefits. It you receive supplemental security income (SSI), which is needs based, the additional income might be considered a resource which you need to disclose as cash. If you must, disclose the amount of the cash you kept. If it cost you $200 to win, and you left with $1,195, disclose that to SSA. They will discover the winnings when the W-2 is processed, and back charge SSI recipients later, often when the money has been spent. Unless your benefits are SSI, you will have nothing to worry about. Thanks for asking at Just Answer. Positive feedback is appreciated. I'mCustomer
Expert:  PDtax replied 2 years ago.
Please advise if you need anything further.
Customer: replied 2 years ago.
Thanks that was all
Expert:  PDtax replied 2 years ago.
Please rate my assistance using the buttons at the bottom of your screen. This advises site management of your opinion, and closes out your question. I'mCustomer