Ask Larry

Can My Wife Get Credit for Self-Employment Earnings in 1989?

My 61-year old wife is 4 credits short of having enough to qualify for SS benefits, which I'd like for her to be able to collect until I start collecting (which I hope to do at age 70-- I'm 61). I found $817 of self employment income in 1989 which should earn her one credit. I filed a Sched C, but mistakenly did not file a Sched SE. Is there any hope for getting her credit for this income? If yes, how would I do so? Thanks and thanks for your great book, Get What's Yours.

George,
Yes, you can get credit for her self-employment earnings in 1989 by filing an amended federal tax return, 1040X, that includes a Schedule SE, and paying the additional self-employment taxes, penalty and interest.
Best,
Mike

Posted: 
Jul 10 2016 - 4:00pm
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