Social security earnings limits for 2020

[oceanlovin'ea]

What is the earnings limit for 2020 for drawing social security before full retirement age? Last year it was $17640. What will it be for 2020? Have a client who will start drawing in 2020 and they ask how much he will earn in 2020? They thought the amount had been lowered. I can't find it anywhere.

Thanks
Linda F

[Lion]

The SSA site has lots of 2019 information, but I didn't see your specific question answered for 2020. They seem to answer their telephone a LOT better than the IRS, though. Hubby had to call them just last week and said they were quick to answer and very helpful.

[TaxGuyBill]

For the past couple of years, the COLA amounts were announced somewhere around the first week or two of October. So it is likely they will announce the 2020 numbers in the next week or two.

[kathyc2]

It's not going to decrease from 2019 amount. Likely increase will be between 3 and 4%. Like Bill said, actual amount will be released in the next couple of weeks. It's not really a limit, but rather for every 2 dollars over it, SS benefits will be reduced by 1 dollar.