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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 11861
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 wife and i are both on ssi and we are thinking of renting

Customer Question

my wife and i are both on ssi and we are thinking of renting a room out at our house and want to know how that will effect our ssi
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: such as
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: just that would be considerd income and how much can it be i read that 881.00 is my limit does that go for my wife to
Submitted: 7 months ago.
Category: Social Security
Expert:  Lane replied 7 months ago.

Hi. My name's Lane.

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Yes, so sorry, that's right, but there is a couple's limit as well.

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If you are talking SSI (means tested) as opposed to SSDI (Social Security Disability Income, which is based on disability and years of working under Social Security), the FEDERAL limit for an Individual 733 (there can be an additional state amount) and for a Couple, 1,100.

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For 2017 tht goes to 735 and 1103

Expert:  Lane replied 7 months ago.

So yes, The monthly amount is reduced by subtracting monthly "countable income" In the case of an eligible individual with an eligible spouse, the amount payable is further divided equally between the two spouses. And again, some states supplement benefits.

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Thank you!

Lane

I have a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986