Ask Larry


How Will The Profit From Selling Our Home Affect Our Social Security Benefits And Medicare Premiums?

I turned 65 1/11/2023 My husband turns 65, March 16th, 2024. He wants to retire at 65, ii may or may not wait till my FRD of 66 and 8 months. We are selling a 2nd home this year and will be hit with Capital gains tax. How will the profit of the home or capital gains tax affect the calculations of ssi when we retire next year? Will this also affect how much we are charged for Medicare?
Thank you,

Sunday, March 26, 2023 - 11:19

Can I Send A Copy Of My ID When Asking For A Replacement Social Security Card?

Can I send a copy of my ID and when I'm asking for replacement card

Hi. No, Social Security won't accept photocopied documents. You may want to refer to the following Social Security website for instructions on obtaining a replacement Social Security card:

Best, Jerry

Wednesday, March 22, 2023 - 12:14

When Can I Stop Filing Tax Returns?

When can I stop filing tax returns? I am 69 and have only my 26,000 dollars per year Social Security and a $4,000 distribution from a small IRA as my yearly income?

Hi. My expertise is limited to Social Security benefits, not income tax regulations. You'll probably want to direct your question to a tax expert or the IRS.

Best, Jerry

Monday, March 20, 2023 - 17:37

Will I Lose My Monthly Stipend Now That My Nephew Receives Social Security?

I am a foster parent of my nephew I get a stipend check monthly. His mother died. He now gets social security. Will I lose my monthly stipend check now?

Hi. I'm sorry, but my expertise is limited to Social Security benefits. You'll probably want to direct your question to the agency that pays you the stipend.

Best, Jerry

Sunday, March 19, 2023 - 22:02

What Would Happen To My Husband's Social Security If He Wins His Lawsuit Against His Former Employer?

My husband was terminated after 40 years for no good reason. He is suing for age discrimination. Our lawyer says we have a very good case. He is 63. He just applied to get social security as he feels he will probably not get a job and we need the income. He is suing for back pay, forward pay and loss of benefits. If he wins, what happens with his social security benefit?

Sunday, March 19, 2023 - 21:56

Can My Wife Become Eligible For At Least A Minimal Benefit By Earning Two More Quarters?

My wife and I are both 67. I’m on track to collect Social Security when I retire, but my wife has only worked for 38 quarters (she took time out first to raise our family, and then 20 years to care for our parents in their old age). Can my wife work 2 more quarters to become eligible for at least a minimal Social Security benefit? Does it have to be full time, or could she work part time and still qualify?

Sunday, March 19, 2023 - 18:38

How Can I Receive My Payments If I Don't Have A Bank Account?

Hello Larry,

I spoke to Social Security about a Direct Express card because I no longer have a bank account. I found no application. Is there something else as a paper check might lead to many problems as I am homeless. I can't be the only one. What would you advise? Going into the office is a problem with a knapsack. Thank you.

Tuesday, March 7, 2023 - 15:38
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