Reply
Newbie

Early Retirement income question

My wife and I are looking at claiming social security early due to job market issues. We are both working as School Bus Drivers mostly for the Insurance benefits. We both make under the $18,960 income limit through the schools. We have a rent house. Would the income from the rent house/investment property count toward the $18,960? If so, how does that work?

Honored Social Butterfly

Here is your answer from AARP

AARP 12/28/2020 - Can rental income reduce Social Security benefits? 

 

Just make sure you are claiming the rental income on Schedule E which then flows to Form 1040 - Schedule 1 under Additional Income. 

(see line 5 on Schedule 1  https://www.irs.gov/pub/irs-pdf/f1040s1.pdf 

 

cancel
Showing results for 
Show  only  | Search instead for 
Did you mean: 
Users
Announcements

AARP Virtual Community Center 

Offering a wide variety of FREE interactive, online events and classes designed for learning, self-improvement, and fun. Learn More

AARP Games

Throw it back and play Atari's Missile Command. Grab your arsenal to neutralize your enemy and protect your cities from a missile attack. You got this!

AARP Games Atari Missile Command

Music and Brain Health

From soft jazz to hard rock - discover music's mental, social and physical benefits. Learn more.

Music and Brain Health

Let Us Work for You

AARP is your trusted friend and fierce defender. Membership unlocks powerful benefits to help you in your life. Join today for just $12 per year with Automatic Renewal.

AARP Membership