Hello,
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,
Donna

Hi Donna. Income from selling a home and any taxes paid on that income have no effect on Social Security benefits. Part B Medicare premium rates can be higher for people with higher incomes, but how your capital gains might affect your and your husband's Part B premium rates in any given year would depend on your annual income. For more specific details on how a person's income can affect their Part B Medicare premium rate, refer to the following Medicare website: https://www.cms.gov/newsroom/fact-sheets/2023-medicare-parts-b-premiums-....

Your and your husband's best strategy for when to claim Social Security benefits depends on many different factors. You should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry