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I have a small business that macks $ 7000.00 will that cover…

Customer Question
I have a small...

I have a small business that macks $ 7000.00 will that cover my four quarters of social security and how do I report it.

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I am 72 years old I retired from government work that did not pay into ss. I am 6 quarters short. I now have a small business that makes $ 7000.00 a year will that give me four quarters and how di i report the money.

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

If I report the earning on a schedule SE with me 1040 will that give me four quarters

Submitted: 4 months ago.Category: Social Security
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Customer reply replied 4 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 4 months ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Answered in 8 minutes by:
3/23/2018
Social Security Expert: Marcia Mitrano,
 replied 4 months ago
Marcia Mitrano
Category: Social Security
Satisfied Customers: 62
Experience: Marcia M Mitrano, CPA at Marcia M Mitrano, CPA
Verified

Hello,

Yes, you should report the income on the Schedule C and it will count towards social security.

Thank you,

Marcia M Mitrano

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Customer reply replied 4 months ago
will that qualify for all four quarters
Social Security Expert: Marcia Mitrano,
 replied 4 months ago

Hello,

As you would guess a quarter is a quarter of a year, in which you make $1,250 or more. You are correct that you will have satisfied this.

Please let me know if this answers your question, or if you still prefer a phone call.

Thank you,

Marcia M Mitrano

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