I will be 66 on10/04/2019 if I am still working the full year of 2019 and want to start drawing my social security on 01/01/2019 would I be penalized if so how much?

Hi,

If you start drawing benefits effective with January 2019, $1 of your benefits would need to be withheld for each $3 that your earnings for the period 1/2019 through 9/2019 exceed next year's earnings test exempt amount. The 2019 exempt amount won't be announced until the latter part of this year, but the exempt amount for people reaching full retirement age in 2018 is $45,360.

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Best, Jerry