- Jurisdiction
- Kansas
In 2020, I was getting Social Security benefits after my husband passed away because I care for our child under 16 (the child turned 16 since that, so it was a part of the 2020 when I was getting benefits). I applied in January 2020 when we knew nothing about the pandemic. They asked if my earned income was predicted to be no more than 18K (something like $18400). I said "Less", because at my work I was making less than that every year prior to 2020.
In March, my work closed and I started getting unemployment...The unemployment benefits letter has benefit amount that is not any high, but then I was also paid an additional $600 a week for some time. There are no confirmation papers from Dep of Labor about the total amount that they paid, but I just sat and wrote down all amounts that I received from unemployment and work (used the last paystub - "year to date"). The total amount of "earned income" ended up being higher than $18400.
1 - Must I notify SS about my "earned" income being higher or can I just leave it for them to figure out what needs to be done? Is it bad if I don't notify them? (SInce there is no documental confirmation of how much unemployment paid me, I may not even know exactly, correct?)
2 - If I pull some money into IRA, would it not affect that earned income amount that they look at?
3- I also have Marketplace health insurance and expect problems because the darn income ended up higher because of those additional $600 a week. Would IRA contribution have any effect on the yearly income that they look at? thank you
In March, my work closed and I started getting unemployment...The unemployment benefits letter has benefit amount that is not any high, but then I was also paid an additional $600 a week for some time. There are no confirmation papers from Dep of Labor about the total amount that they paid, but I just sat and wrote down all amounts that I received from unemployment and work (used the last paystub - "year to date"). The total amount of "earned income" ended up being higher than $18400.
1 - Must I notify SS about my "earned" income being higher or can I just leave it for them to figure out what needs to be done? Is it bad if I don't notify them? (SInce there is no documental confirmation of how much unemployment paid me, I may not even know exactly, correct?)
2 - If I pull some money into IRA, would it not affect that earned income amount that they look at?
3- I also have Marketplace health insurance and expect problems because the darn income ended up higher because of those additional $600 a week. Would IRA contribution have any effect on the yearly income that they look at? thank you
