I am writing here to ask for help in having someone explain why am I not getting the “Credit of Work” towards my SSI retirement qualification.

I am married, and we file jointly. My wife has a regular W2 job. I am self-employed (a free-lance musician), and file a Schedule C for myself. Almost all of my income is via the 1099 and I don’t get any W2’s. My only other income (or loss) is
via the stock market.

As an example, in 2015 my Form 1040 Line 12 (Business Income/Loss) had a total of +4,069 and my Line 13 (Capital Gains/Loss) had +27,909. My self-Employment Tax (Line 57) is $575. For the 2015 year, SSI Statement shows me achieving $3,757 in both
Taxed SSI and Medicare Earnings.

But in 2016, where my Form 1040 Line 12 (Business Income/Loss) had a total of +109 and my Line 13 (Capital Gains/Loss) had +34,712. My self-Employment Tax (Line 57) is 0. For the 2016 year, SSI Statement shows me achieving $0 in both Taxed SSI and
Medicare Earnings.

If you put together my capital gains + business income, I made more money in 2016 than in 2015. So why not get any credit at all for SSI/Medicare?

I am 47 and as of right now, I only have only retirement 17 credits. I’ve read all I can find on this, and realize that one can only earn a maximum of 4 credits per calendar year. But I am still puzzled as to why for 2016 I have earning nothing.

All input is much appreciated!

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On 2/25/18 10:03 AM, quilt192@gmail.com wrote:

I am writing here to ask for help in having someone explain why am I not getting the “Credit of Work” towards my SSI retirement qualification.

I am married, and we file jointly. My wife has a regular W2 job. I am self-employed (a free-lance musician), and file a Schedule C for myself. Almost all of my income is via the 1099 and I don’t get any W2’s. My only other income (or loss)

is via the stock market.

As an example, in 2015 my Form 1040 Line 12 (Business Income/Loss) had a total of +4,069 and my Line 13 (Capital Gains/Loss) had +27,909. My self-Employment Tax (Line 57) is $575. For the 2015 year, SSI Statement shows me achieving $3,757 in both

Taxed SSI and Medicare Earnings.

But in 2016, where my Form 1040 Line 12 (Business Income/Loss) had a total of +109 and my Line 13 (Capital Gains/Loss) had +34,712. My self-Employment Tax (Line 57) is 0. For the 2016 year, SSI Statement shows me achieving $0 in both Taxed SSI and

Medicare Earnings.

If you put together my capital gains + business income, I made more money in 2016 than in 2015. So why not get any credit at all for SSI/Medicare?

I am 47 and as of right now, I only have only retirement 17 credits. I’ve read all I can find on this, and realize that one can only earn a maximum of 4 credits per calendar year. But I am still puzzled as to why for 2016 I have earning nothing.

All input is much appreciated!

The main issue here is that UNearned income such as capital gains, do
not count toward SS benefits. Because no SS/Medicare taxes are
withheld from unearned income. Only W-2 wages,and SE net income, counts.

See
https://www.ssa.gov/planners/retire/netearns.html https://www.ssa.gov/planners/credits.html#

Also, don't use the letters "SSI" when referring to SS *Retirement*
benefits. SSI is different. The Supplemental Security Income (SSI)
program pays benefits to disabled adults and children who have limited
income and resources.

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On Sunday, February 25, 2018 at 12:35:48 PM UTC-5, Retired wrote:

On 2/25/18 10:03 AM, quilt192@gmail.com wrote:

I am writing here to ask for help in having someone explain why am I not getting the “Credit of Work” towards my SSI retirement qualification.

I am married, and we file jointly. My wife has a regular W2 job. I am self-employed (a free-lance musician), and file a Schedule C for myself. Almost all of my income is via the 1099 and I don’t get any W2’s. My only other income (or loss)

is via the stock market.

As an example, in 2015 my Form 1040 Line 12 (Business Income/Loss) had a total of +4,069 and my Line 13 (Capital Gains/Loss) had +27,909. My self-Employment Tax (Line 57) is $575. For the 2015 year, SSI Statement shows me achieving $3,757 in

both Taxed SSI and Medicare Earnings.

But in 2016, where my Form 1040 Line 12 (Business Income/Loss) had a total of +109 and my Line 13 (Capital Gains/Loss) had +34,712. My self-Employment Tax (Line 57) is 0. For the 2016 year, SSI Statement shows me achieving $0 in both Taxed SSI

and Medicare Earnings.

If you put together my capital gains + business income, I made more money in 2016 than in 2015. So why not get any credit at all for SSI/Medicare?

I am 47 and as of right now, I only have only retirement 17 credits. I’ve read all I can find on this, and realize that one can only earn a maximum of 4 credits per calendar year. But I am still puzzled as to why for 2016 I have earning nothing.

All input is much appreciated!

The main issue here is that UNearned income such as capital gains, do
not count toward SS benefits. Because no SS/Medicare taxes are
withheld from unearned income. Only W-2 wages,and SE net income, counts.

See
https://www.ssa.gov/planners/retire/netearns.html https://www.ssa.gov/planners/credits.html#

Also, don't use the letters "SSI" when referring to SS *Retirement* benefits. SSI is different. The Supplemental Security Income (SSI)
program pays benefits to disabled adults and children who have limited income and resources.

Thanks for your reply. So then, how much must I have profit/gain for my Schedule C in order to get at least 1 credit. And how about the maximum 4?

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On Sunday, February 25, 2018 at 12:35:48 PM UTC-5, Retired wrote:

On 2/25/18 10:03 AM, quilt192@gmail.com wrote:

I am writing here to ask for help in having someone explain why am I not getting the “Credit of Work” towards my SSI retirement qualification.

I am married, and we file jointly. My wife has a regular W2 job. I am self-employed (a free-lance musician), and file a Schedule C for myself. Almost all of my income is via the 1099 and I don’t get any W2’s. My only other income (or loss)

is via the stock market.

As an example, in 2015 my Form 1040 Line 12 (Business Income/Loss) had a total of +4,069 and my Line 13 (Capital Gains/Loss) had +27,909. My self-Employment Tax (Line 57) is $575. For the 2015 year, SSI Statement shows me achieving $3,757 in

both Taxed SSI and Medicare Earnings.

But in 2016, where my Form 1040 Line 12 (Business Income/Loss) had a total of +109 and my Line 13 (Capital Gains/Loss) had +34,712. My self-Employment Tax (Line 57) is 0. For the 2016 year, SSI Statement shows me achieving $0 in both Taxed SSI

and Medicare Earnings.

If you put together my capital gains + business income, I made more money in 2016 than in 2015. So why not get any credit at all for SSI/Medicare?

I am 47 and as of right now, I only have only retirement 17 credits. I’ve read all I can find on this, and realize that one can only earn a maximum of 4 credits per calendar year. But I am still puzzled as to why for 2016 I have earning nothing.

All input is much appreciated!

The main issue here is that UNearned income such as capital gains, do
not count toward SS benefits. Because no SS/Medicare taxes are
withheld from unearned income. Only W-2 wages,and SE net income, counts.

See
https://www.ssa.gov/planners/retire/netearns.html https://www.ssa.gov/planners/credits.html#

Also, don't use the letters "SSI" when referring to SS *Retirement* benefits. SSI is different. The Supplemental Security Income (SSI)
program pays benefits to disabled adults and children who have limited income and resources.

Thanks for that info. So in order to get anything towards my retirement credit, they can only be counted from the Schedule C gain/profit?

Based on this (from the SSA link)

"The amount of earnings it takes to earn a credit has changed since 1978. In the year 2017, you must earn $1,300 in covered earnings to get one Social Security or Medicare work credit and $5,200 to get the maximum four credits for the year."

Meaning: If in 2018 I have a gain of at least $1,300, I will then get at least 1 credit. Correct?

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