Question

Resolved | Popular

My aged parents recently sold their assets to pay for medical expenses ?
The capital gain from that sale boosted their AGI on their tax form to high amounts. Their social security benefits appear to have been reduced because of their high AGI. Is that the case?

In Social Security - asked by johnedwin - on May 16th, 2008

1 Answer

StanTomkiel
May 16th, 2008

Yes. The AGI figure includes the capital gain, so 85% of the SS benefits are taxed if their joint return is over $32,000.

Page: 1

Resolved Questions in Social Security

	I have stock options that were awarded while i was still working ?
	My friend’s widowed daughter was asked by the social security a question ?
	My aged parents recently sold their assets to pay for medical expenses ?
	A worker has reached full retirement age and is receiving benefits and continues to earn income ?