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I will work the first three months of 2018 then retire &

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I will work the...

I will work the first three months of 2018 then retire & start drawing my social security in April when I am age 65. Will the income that I made the first three months count toward halfing to give back because I made to much money in the first three months of 2018?

Submitted: 4 months ago.Category: Social Security
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Answered in 9 minutes by:
12/19/2017
Social Security Expert: lev-tax, Tax Advisor replied 4 months ago
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 32,678
Experience: Taxes, Immigration, Labor Relations
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If you will be 65 in 2018 - means your year of birth is 1953 - and your FRA - full retirement age is 66.

If you start your social security benefits in 2018 - you will be below your FRA for the whole 2018 year - and your earning will be limited.

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Social Security Expert: lev-tax, Tax Advisor replied 4 months ago

For 2018 that limit is $17,040.

Otherwise - the SSA will deduct $1 from your benefit payments for every $2 you earn above the annual limit.

HOWEVER - for the FIRST year you retire - the SSA will consider you as retired if monthly earnings are $1,420 or less.

So because ALL your earnings will be during beginning of the year BEFORE you started your social security benefits - your earning will NOT affect your benefits for the rest of the year.

Let me know if you need any clarification this matter.

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