Ask Larry

Will Selling My Home Affect My SSDI Benefits?

I am selling my home and the buyer want title co to direct deposit money into my checking ,will that affect my SSDI benefits and what will I need to show proof that money came from sale of home?

Hi,

Unless you're a realtor, buying and/or selling a home wouldn't have any effect on your Social Security disability (SSDI) benefits. Only earned income can affect SSDI benefits, and earned income is limited to either wages or self-employment earnings. Income from the sale of a home Isn't classified as either wages or self-employment, except for people who are self-employed in the business of selling real estate.

However, if you receive receive Supplemental Security Income (SSI), then you would need to report income from the sale of a home to Social Security. SSI is a needs based benefit, so both earned and unearned income can potentially affect those benefits.

Best, Jerry

Posted: 
Sep 19 2020 - 8:27am
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