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Does Selling Property Affect Social Security?
Does Selling Property Affect Social Security?
Sophia Al-Mansoor••7 min read
WHAT HAPPENS AFTER I SELL MY REAL AND/OR PERSONAL PROPERTY? You will have to pay back some or all of the SSI benefits
SSI benefits
SSI stands for Supplemental Security Income. Social Security administers this program. We pay monthly benefits to people with limited income and resources who are disabled, blind, or age 65 or older. Blind or disabled children may also get SSI.
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you received while trying to sell the property. You may continue to get SSI benefits. Contact your local Social Security office to find out if your SSI benefits will continue after the sale.
Will capital gains from home sale affect Social Security benefits?
A: The good news is that the sale of your home, or real estate that you hold as an investment (like a vacation home or rental property), won't reduce your Social Security benefits. Social Security earnings restrictions rules only kick in when income is received as wages and earnings from jobs.
Does selling land affect your Social Security?
Profit from the sale of real estate wouldn't affect Social Security disability (SSDI) benefits unless you're a self-employed realtor, so assuming that you aren't a realtor and what you receive is SSDI then you wouldn't need to notify Social Security if you sell your property.