Sep 30, 2019 They only make provision for the deduction of losses. Gambling activities whose winnings will be taxed are games like poker, slots, bingo, racetrack games amongst others. Gambling winnings on a whole affect your social security hugely because whether you lose the same amount of money you win while gambling you would be paying a lot in taxes. Jul 25, 2019 Firstly, a regular income affects benefits, and additionally, there’s no guarantee that one good month’s winnings will be repeated the next month. As with all gambling, it is most advisable to approach it as a leisurely pursuit – just make sure you declare winnings of over £6,000 if you do win big.
- Do Gambling Winnings Affect Your Social Security Benefits
- Online Gambling Benefits
- Do Gambling Winnings Affect Social Security Benefits
- How Gambling Winnings Affect Ssi Benefits
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It will depend on several factors: first is the type of Social Security disability income you are receiving. If you are receiving only SSDI (Social Security disability insurance) benefits, then, unless Social Security decides that you earned your winnings, the income won't matter to your receipt of SSDI benefits (but it might affect any other benefits you are receiving).
If you are receiving any SSI benefits, then that benefit or the amount of benefit you receive will definitely be affected by your gambling winnings. You may become ineligible for SSI benefits until you have 'spent down' your winnings so that you have less than $2000 total (including the value of any other countable resources you have) in resources. The first month of receipt, your winnings would be considered to be income, it is likely you would be 'over income' (have too much income), the next month, any money you have over the $2,000 limit would make you ineligible because of excess sources.
If you become ineligible for SSI cash benefits, you may also become ineligible for Medicaid and might see your eligibility for other types of benefits, foodstamps, housing, etc., affected as well. Here is a link to information about SSI benefits http://www.ssa.gov/pubs/11000.html
Do Gambling Winnings Affect Your Social Security Benefits
It would be wise for you to determine what type of Social Security disability benefits you receive, as the type of benefit(s) you are receiving makes a big difference in how much of an effect, if any, your gambling winnings will have on your eligibility for Social Security disability benefits and/or any other benefits you are currently receiving (food stamps, etc.).
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Oregon. Responses are based solely on Oregon law unless stated otherwise.
Online Gambling Benefits
I agree. if you are getting Medicare, then you probably are getting SSDI and the winnings will not affect your benefits. If you are getting SSI and medi-cal, then maybe. And, it may depend on who had the winnings, since you mentioned you and your husband are on some combination of medicare, medical and SSI.
You may want to talk to an attorney in your area so you can review the specific facts with counsel. You may contact your local city, county or state bar association to see if they have a lawyer referral program, or you may contact the National Organization of Social Security Claimants' Representatives (NOSSCR) for the name and email address or telephone number of attorneys in your area. Most attorneys who do any amount of Social Security work are members of NOSSCR and provide a free initial consultation. In any event, no attorney may charge a fee for work on a social security claim until it has been approved by Social Security. The fee limit is a maximum of 25% of past due or back due benefits you are owed, and many lawyers charge less than the full 25%, and the money is not paid until your claim has been approved.
The telephone number for the lawyer referral service of NOSSCR is 1-800-431-2804. NOSSCR's website is www.nosscr.org.
In addition, you can find a Board certified specialist in Social Security by contacting the National Board of Trial Advocacy. They evaluate lawyers (independently) in many types of claims and require extensive experience and testing before a lawyer is certified. They have a section specifically for Social Security: The National Board of Social Security Disability Advocacy, Divisions of the National Board of Legal Specialty Certification.
Do Gambling Winnings Affect Social Security Benefits
Their link is: http://www.nblsc.us/
You may also contact NADR (National Association of Disability Representatives) www.nadr.org – automated Telephone Referral System at 1-800-747-6131
How Gambling Winnings Affect Ssi Benefits
Does Gambling Winnings Affect Tax Credits
I hope this information helps. Good luck to you!
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