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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12448
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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Why and is appeal worthwhile after having SSI benefits

Customer Question

why and is appeal worthwhile after having SSI benefits reduced after selling farm generating adjusted gross income over $170,000?
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: Spouse and sister sold fifty acres of family farm in 2015. Social Security has notified that since our income was above $170,000 approx. $368.00 will be deducted from spouse and Me starting Jan 2017.
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: yes. Spouse and I have turned appeal three days past.
Submitted: 9 months ago.
Category: Social Security
Expert:  Lane replied 9 months ago.

Hi. My name's Lane.

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Yes, Social Security has relief for this, youi just have to "jump through the hoops" of documenting that this was a one time event.

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See this from SSA here: https://www.ssa.gov/pubs/EN-05-10536.pdf

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From page 7 of the document I've linked for you here:

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"If your income has gone down due to any of the following situations, and the change makes a difference in the income level we consider, contact us to explain that you have new information and may need a new decision about your income-related monthly adjustment amount:

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• You married, divorced, or became widowed;

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• You or your spouse stopped working or reduced your work hours;

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• You or your spouse lost income-producing property because of a disaster or other event beyond your control;

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• You or your spouse experienced a scheduled cessation, termination, or reorganization of an employer’s pension plan; or

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• You or your spouse received a settlement from an employer or former employer because of the employer’s closure, bankruptcy, or reorganization.

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If any of the above applies to you, we need to see documentation verifying the event and the reduction in your income. The documentation you provide should relate to the event and may include a death certificate, a letter from your employer about your retirement, or something similar. If you filed a federal income tax return for the year in question, you need to show us your signed copy of the return."

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Again, the very best documentation is to show on the 2015 return that this was a capital gain, not earned income, and a one time event (they don't dig that far into the return ... this was likely just kicked out of the system when the system saw that higher AGI)

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And then IDEALLY, get your return for 2016 does as quickly as you can (you should have all of your tax documents by the end of january) to document what your real (and ongoing) income will be.

Expert:  Lane replied 9 months ago.

Please let me know if you have ANY questions at all, before rating me

But if this has helped, and you don’t have other questions, I appreciate a positive rating (using those stars on your screen – and clicking submit) … That’s the only way JustAnswer will compensate me for the work here.

Thanks,

Lane

I have a law degree, 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.