Social Security Disability Benefits, rental income?
I am the representative payee for my dad. He is disabled (Altziemer’s) and is receiving SS Disability benefits. If I invest my dad’s retirement money in real estate, more specifically a rental property, and my dad receives rental income (e.g., $500 per month) from the rental property he owns, how is this rental income classify with respect to income that can cause a reduction in his monthly disability check amount from SSA? Would this be investment income, or treated like income from a job or self employment? In other words, can this rental income cause a reduction in my dad's SS Disability checks? In this case, my dad would not be doing anything himself regarding the rental property. He is unable to. As his representative payee, I would make the investment for him, I would manage the property, and my dad would simply obtain the financial benefit (rental income). Thanks for your help.
Public Comments
- The easiest way it's to buy property on your name and you can use your dad's SS income ( as a payee) to qualify for a loan. And . it's a rental income.
- This besides your local office will be the best place for you to go to research the answer to your question SOCIAL SECURITY: How work affects your social security benefits: http://www.socialsecurity.gov/pubs/10069.html SOCIAL SECURITY: Receiving special payments (income) after you retire for work done before you started getting your social security: http://www.socialsecurity.gov/pubs/10063.html Social Security: All publications by the department: http://www.socialsecurity.gov/pubs/englist.html SOCIAL SECURITY ADMINISTRATION WEB SITE: http://www.ssa.gov/ Best of luck to you
