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DISCLAIMER - THIS WEBSITE IS NOT ENDORSED BY OR AFFILIATED WITH THE U.S. SOCIAL SECURITY ADMINISTRATION , OR ANY GOVERNMENTAL ENTITY.
 Carol Thomas has recently retired from the Social Security Administration after 28 years service. If you have any questions about Social Security, please ask. We will use the questions you send for future posts. I will never post anyone's name, or other identifiable information.
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| Social Security repayment with 1099 and W2 simultaneously |
Date Add : 09-24-2009
| Views : 70
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Hi Carol,
I am so glad I found your site. I am a 63-year old widow who receives SS survivor benefits. I only applied for the latter because I lost my job. Since receiving benefits, I have found two part-time jobs. One paid $13,000 last year for which I received a 1099. The other paid 14,500 for which I received a W2.
In order not to have any unpleasant surprises, I called Social Security three times to see how the extra income would be treated. I got the same answer three times. It would be based on my taxable income NOT GROSS income.
I filed for a tax extension this year and was not overly worried until someone told me that for the W2 earnings the gross income applied. Would you please tell me how the 1099 income is treated for Social Security purposes?
I am petrified that I cannot repay the amount I owe without incurring more problems.
Thank you.
Chris
Support Replied ~ 08-26-2009 19:55:55
Dear Christa:
SS uses the w2 to gage your earnings for the year. SO if you earned $14500, you would be overpaid $340.00. No, the 1099 is used to do a self-employment schedule for your taxes. Look on line 4 of the schedule SE (your net gain) and add that to your w2 amount, and that will be what your earnings for the year will be. If this is the first year you received benefits, the rules could be different that the one for two.
Otherwise it is pretty straight forward. if you are overpaid, you can have reduced withholding for the overpayment........Carol
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DISCLAIMER -
You should consult with your local Social Security Office before acting upon any information received as a response to your question on "Social Security Advisor".
"Social Security Advisor" is intended to provide accurate and authoritative information with regard to the subject matter covered. It is offered with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, investment or other professional advice or services.
Information obtained from RetirementCommunity.com, including e-mail responses from "Social Security Advisor" should be considered as general educational information. You must never rely upon the advice given here. Your individual situation may not fit the generalizations discussed. Only your local Social Security office can evaluate your individual situation and give you advice.
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