Client has a farm and will have gross farm income of $24000. Is 62 yrs old and is drawing social security. Is the limitation figured on the gross income or the net. His net will be under the $12960 limation. TB just refered to earning,but didn't specify net or gross. I know the W2 is gross.
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It is always based on the amount subject to SS. In other words, Net.Last edited by BOB W; 10-29-2007, 12:18 AM.This post is for discussion purposes only and should be verified with other sources before actual use.
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If TP just started drawing this year the rules are different. TP could have a net farm loss and still lose some of the SS benefits.Comment
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