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carcon
June 27th, 2007, 3:22pm
I am collecting Social security and I just won a very large prize and today I occured to me that when I pay my taxes on the prize I must declare it as income, but I do not have a job, so is this considered "earned income"? Does anyone know about this?

Tarah716
June 27th, 2007, 3:28pm
Yes - it's considered "other income" when you file.

carscheles
June 27th, 2007, 3:31pm
It depends on if it's SSI or SSDI. SSI will take it into consideration - SSDI doesn't count it as "earned income".

fastfreddie1959
November 25th, 2007, 4:45pm
SS retired me 3/4's pay-so i wonder how they would tax me if i won a big prize ?

SillyLilly
November 25th, 2007, 4:51pm
It depends on if it's SSI or SSDI. SSI will take it into consideration - SSDI doesn't count it as "earned income".

True, it doesn't affect your $$$ from SSDI, but it DOES affect your taxes to the IRS, whether you're getting SSDI or SSI. And yes, it's considered earned income.

QBookie
November 25th, 2007, 4:54pm
:worry: Do not accept tax advice from anyone whom you cannot hold accountable. Consult a licensed tax professional.

lifesfun
November 25th, 2007, 4:55pm
http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

There is a chart on page 6 and 7 as to who has to file.

The way I see it, you wouldn't have to file unless your gross income is more than $8750.
You're not suppose to include SS in that.

This is what it says...

** Gross income means all income you received in the form of money, goods, property, and services that is not exempt
from tax, including any income from sources outside the United States (even if you can exclude part or all of it). Do not
include social security benefits unless you are married filing a separate return and you lived with your spouse at any time
in 2007.

I'm not a tax expert though. I always wonder this because my parents (retired and over 70) collect ss and I wonder what would happen if they won a big prize.

demmi
November 25th, 2007, 4:57pm
If you are on ssd it is other income and it does not affect your ssd money only earned income such as a part time job affects how much money you will receive from them. ssi which is a different program will count it much like welfare does and you may lose some or all of the money you receive from them for that year. you do have to pay income tax on your win.

Trisha
November 25th, 2007, 5:11pm
You'll receive a 1099 for the big prize. It goes under "Miscellaneous Income" on your tax form. My husband receives SS and another pension and that's the way we were told to file it per IRS and TurboTax.

fromguns
November 25th, 2007, 5:19pm
I draw social security and I won over 10,000 dollars last year at the casino but I also lost about twice that amount I am wondering if I can deduct my losses from that?

mincognita
November 25th, 2007, 5:20pm
:worry: Do not accept tax advice from anyone whom you cannot hold accountable. Consult a licensed tax professional.

I concur.

Earned income, for most purposes, is W-2 and self-employment income.

Although sweepstakes wins are added as "other income", and may affect the taxibility of your SS, it would not be consider "earned" income.

Please, consult a local tax pro. Better yet... call the SSA.

Oh... and Congrats! on your big win. :D

LindaK
November 25th, 2007, 5:29pm
All prizes are considered taxable income (state and federal) and must be categorized as such on your income tax return. The amount of taxation depends upon the income tax bracket, deductions, etc for each individual tax filer. The general rule is about 30%, but may be less depending on income.

Per the OP, if the ARV of this prize and the amount of SS you receive exceeds the amount considered exempt by the IRS you will be responsible for taxes on that amount. Whether you receive SSI or SSDI/SS income each have different rules that you will need to look into for your particular situation.

You may be able to determine the amount (estimate) from the Federal IRS online site or you can find a chart in the yearly Federal 1040 booklets. While prizes are not considered "earned" income they are considered income. Because prizes (or gifts) are not wages/earned income they are exempt from FICA (but not federal/state) taxation. Waiver: as always consult your accountant or tax advisor for the rules as they apply specifically to you.

janess
November 25th, 2007, 5:31pm
I draw social security and I won over 10,000 dollars last year at the casino but I also lost about twice that amount I am wondering if I can deduct my losses from that?

Absolutely, but you must be able to prove your losses.

You can deduct up to the 10K.

But.....as others have posted please consult a reputable tax accountant ;)

HamsterLady
November 25th, 2007, 5:41pm
Good question!:twoclap:

joanieo
November 25th, 2007, 6:08pm
I draw social security and I won over 10,000 dollars last year at the casino but I also lost about twice that amount I am wondering if I can deduct my losses from that?

Just a note if you use a swipe card at the casino they can get you a list of how much you lost. I unfortunately know this but I would be afraid to ask because I am afraid to see what i really spent LOL

judyv01510
November 25th, 2007, 6:20pm
:worry: Do not accept tax advice from anyone whom you cannot hold accountable. Consult a licensed tax professional.


That is the best advise I have seen on this site.

lifesfun
November 25th, 2007, 6:21pm
I draw social security and I won over 10,000 dollars last year at the casino but I also lost about twice that amount I am wondering if I can deduct my losses from that?


I read soemthing about this on fox. I guess it might pay to save any non-winning lottery tickets if you buy a lot of them and then win.


Gambling With Your Taxes: How to Report Your Wagers

http://www.foxnews.com/story/0,2933,185938,00.html

BEARHUGS65
November 25th, 2007, 6:25pm
even tax professional do not know it all- the irs- if you have time drop by your local office- get all the info you need directly from the source.

judyv01510
November 25th, 2007, 6:33pm
http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

There is a chart on page 6 and 7 as to who has to file.

The way I see it, you wouldn't have to file unless your gross income is more than $8750.
You're not suppose to include SS in that.

This is what it says...

** Gross income means all income you received in the form of money, goods, property, and services that is not exempt
from tax, including any income from sources outside the United States (even if you can exclude part or all of it). Do not
include social security benefits unless you are married filing a separate return and you lived with your spouse at any time
in 2007.

I'm not a tax expert though. I always wonder this because my parents (retired and over 70) collect ss and I wonder what would happen if they won a big prize.


All that mean means is when considering the lowest amount of income you can receive before you are required to file a tax return (8750.00) and in figuring that $8750 do not consider SS.

If you earned 8751 then your income is taxable and subsequent ss rules apply.
You also forgot to quote that the 8750 is for someone single. Not married.

So go back the QBookie's reply and take it to heart. Someone can quote all they want but all the information may not be there.

mincognita
November 25th, 2007, 6:35pm
even tax professional do not know it all- the irs- if you have time drop by your local office- get all the info you need directly from the source.

You do realize they'll give an incorrect answer 40% of the time. Sad, but true.

The OP's questions really pertains more to what the SSA considers "earned income", and not whether it's taxable or not.

OP should call the SSA for clarification on what's considered earned income.

lifesfun
November 25th, 2007, 6:48pm
All that mean means is when considering the lowest amount of income you can receive before you are required to file a tax return (8750.00) and in figuring that $8750 do not consider SS.

If you earned 8751 then your income is taxable and subsequent ss rules apply. But neither addresses the OP question. Which is Does SS consider it earned income?. Not IRS the laws governing each are different.

You also forgot to quote that the 8750 is for someone single. Not married.

So go back the QBookie's reply and take it to heart. Someone can quote all they want but all the information may not be there.

I'm sorry, I should have noted that I was responding to ff, not the op. The link is to the instructions for the 1040 for 2007. Caveat: I'm not a tax expert.

QBookie
November 25th, 2007, 6:48pm
even tax professional do not know it all- the irs- if you have time drop by your local office- get all the info you need directly from the source.
Tax professionals may not know it all, but they should have an errors and omissions insurance policy that covers them if they give erroneous advice or prepare an inaccurate return. Franchise tax preparers may have a policy in their fine print that may not be in the taxpayers best interest. Now here is where I question my own credibility, "I do not think you can hold either the IRS or the SS Administration accountable unless it is in writing." Where is our member Barbs when I really need her?

TANYASEN
November 25th, 2007, 6:54pm
:DSS retired me 3/4's pay-so i wonder how they would tax me if i won a big prize ?


I hope you get to find out!

tlannan
November 25th, 2007, 7:03pm
It depends on if it's SSI or SSDI. SSI will take it into consideration - SSDI doesn't count it as "earned income".

I've said this before...this is what I do for my job (which requires much training on an ongoing basis) so what I tell you is technically correct, not just personal experience, which can sometimes get confused over time.

If the OP was strictly asking about the effect on Social Security benefits, this is somewhat correct. If you get SSDI or collect Social Security as a retired person, then the Social Security Administration need not even know about the win.

If you get SSI, the value of this item may be counted by the Social Security Administration (SSA) as income/assets but it will be "unearned income", not earned. If the item can not be used for food or shelter they may not count it but I can't guarantee that. You should contact your local SSA office to be sure. Don't call the 800 number.

Now, the IRS is a separate issue. SSA may use your tax records as proof of income/expenses but there are very separate rules for both. You should consult a tax professional about your tax burden on such a win.

Just to be sure I am clear, you should contact BOTH the IRS AND your local SSA office. Also, if you get any other public benefits you need to check on how those will be affected (for example, subsidized housing...AKA HUD, Section 8..., food stamps, Medicaid....AKA MA, Title 19).

sandyk
November 25th, 2007, 7:06pm
I won $1000 once from our state lottery and I could claim all of my losing tickets for the year as a loss as long as I still had the tickets to prove that I had bought them.

barbs
November 25th, 2007, 7:10pm
I draw social security and I won over 10,000 dollars last year at the casino but I also lost about twice that amount I am wondering if I can deduct my losses from that?

Gambling losses can be deducted only to the extent of the gambling winnings - for example, you can't deduct $12,000 from your income if you won only $10,000.

Caution - you MAY have to prove the amount you're claiming as a loss.

****Consult a tax professional - preferably a tax attorney or CPA !!!*** And get the opinion in writing! You may or may not have to file on those winnings if you didn't win it all at once. That is, if you didn't fill out a tax form at the time you collected the winnings. BUT - consult that professional (not a tax service company).

If you get an opinion from the IRS or the SS office, get that in writing too - they have to provide it if you so request.

lex2100
November 25th, 2007, 7:11pm
I'm on SSA disability and all my W-9's from wins have to be reported as income. Not to mention, I have to pay taxes on my $800 a month I get from Social Security at the end of the year. :frown4:

Stagemother
November 25th, 2007, 7:25pm
:worry: Do not accept tax advice from anyone whom you cannot hold accountable. Consult a licensed tax professional.


She is so right. Some peeps are answering questions other than the one you asked. Ask a professional, or call your local Social Security office to see what they consider "earnings." :frown4:

mincognita
November 25th, 2007, 8:12pm
Gambling losses can be deducted only to the extent of the gambling winnings - for example, you can't deduct $12,000 from your income if you won only $10,000.

Caution - you MAY have to prove the amount you're claiming as a loss.

****Consult a tax professional - preferably a tax attorney or CPA !!!*** And get the opinion in writing! You may or may not have to file on those winnings if you didn't win it all at once. That is, if you didn't fill out a tax form at the time you collected the winnings. BUT - consult that professional (not a tax service company).

If you get an opinion from the IRS or the SS office, get that in writing too - they have to provide it if you so request.

This is incorrect. Gambling winnings, like sweepstakes winnings, are reportable as income, even if no paper (1099) is issued.

barbs
November 25th, 2007, 8:21pm
This is incorrect. Gambling winnings, like sweepstakes winnings, are reportable as income, even if no paper (1099) is issued.

You are entirely correct!

Depends upon how honest a gambler is! (And how many are?) Casinos don't report winnings unless those winnings exceed a certain amount. Sweeps sponsors DO have records for their own tax deducts. And - I DID insert a "BUT - consult a professional", didn't I?

barbs
-an accountant in my working life
-a SS recipient
-a gambler.

:halo:

pambanter
November 25th, 2007, 8:22pm
Not for social security disability. My office said I could win the lottery. It is not EARNED income. For SSI, it is different.

pambanter
November 25th, 2007, 8:23pm
True, it doesn't affect your $$$ from SSDI, but it DOES affect your taxes to the IRS, whether you're getting SSDI or SSI. And yes, it's considered earned income.
No it is NOT. It is considered miscellaneous income on your taxes.

pambanter
November 25th, 2007, 8:28pm
I'm on SSA disability and all my W-9's from wins have to be reported as income. Not to mention, I have to pay taxes on my $800 a month I get from Social Security at the end of the year. :frown4:
Yes, you report winnings at tax time as INCOME. But it is not EARNED income, which affects your eligibility for SSDI. And I don't know why you pay taxes on your SS income unless that is not the only income you get for the year. When you fill out your taxes you CLAIM it, but I don't know how much you actually pay in taxes on that income.

mincognita
November 25th, 2007, 8:39pm
You are entirely correct!

Depends upon how honest a gambler is! (And how many are?) Casinos don't report winnings unless those winnings exceed a certain amount. Sweeps sponsors DO have records for their own tax deducts. And - I DID insert a "BUT - consult a professional", didn't I?

barbs
-an accountant in my working life
-a SS recipient
-a gambler.

:halo:

Greetings Barb, from a fellow tax pro.

I don't mean to ruffle any feathers.... But you and I both know that the first thing the IRS is going to look for in the event of an audit are bank statements. If a T/P can't document that they reported that $599 deposit they made from the casino, pleading ignorance of the IRC isn't going to get the penalties and interest waived. So whether the casino reported it or not isn't going to save my clients butt.

Do I ask every client whether they went to the casino during the year? No. Would I make a broad statement on a public message board regarding not reporting income that has no paper trail? No.

tlannan
November 26th, 2007, 12:37am
I think much confusion in this thread is that people keep switching back and forth between tax rules and Social Security rules. Both agencies look at income (whether it is earned or unearned) in different ways. Just remember that you may have a liability to BOTH agencies and that the amount of liability may be different and is based on different things. Even within the Social Security Administration, liability is different depending on which benefit you get from them.

QBookie
November 26th, 2007, 6:41am
I think much confusion in this thread is that people keep switching back and forth between tax rules and Social Security rules. Both agencies look at income (whether it is earned or unearned) in different ways. Just remember that you may have a liability to BOTH agencies and that the amount of liability may be different and is based on different things. Even within the Social Security Administration, liability is different depending on which benefit you get from them.
Well said.

mincognita
November 26th, 2007, 7:28am
I think much confusion in this thread is that people keep switching back and forth between tax rules and Social Security rules. Both agencies look at income (whether it is earned or unearned) in different ways. Just remember that you may have a liability to BOTH agencies and that the amount of liability may be different and is based on different things. Even within the Social Security Administration, liability is different depending on which benefit you get from them.

This is basically what I said back in post #20.

This, and similar threads I've seen here, just go to prove that (where the tax code is concerned) what you don't know CAN hurt you.

meeeee
November 26th, 2007, 8:08am
:worry: Do not accept tax advice from anyone whom you cannot hold accountable. Consult a licensed tax professional.

excellent advice talk to a professional
not that the advice here is not correct just make sure you have it confirmed by a professional

fastfreddie1959
November 26th, 2007, 8:27am
None of those programs apply to me--And i do not file taxes--as i have 2 incomes.
Im not 65 yrs old yet & im listed as Retired as Per SSA--No there not gonna change
there status on me-i tryed.
And workers comp insurance pays my taxes on my income that i recieve from them.
My personal dealings with the IRS & SSA lead nowhere.
Lawyers can't even figure out whats up or down since the system has been revamped.
Tax consultants are useless unless of course you have a lot of income which i don't.
From what i have seen in the past 7yrs the entire system is screwed up.
Ask IRS-OR-SSA and you will get 10 different answers from 10 different people.
Been there and done that.
I fight with SSA all the time about my status--nothing changes and there not
gonna change it......
So where does that leave me and others like me ?
Dust in the wind baby:ohyeah:
Were just a number so stand in line just like the rest:twoclap:

barbs
November 26th, 2007, 8:34am
Greetings Barb, from a fellow tax pro.

I don't mean to ruffle any feathers.... But you and I both know that the first thing the IRS is going to look for in the event of an audit are bank statements. If a T/P can't document that they reported that $599 deposit they made from the casino, pleading ignorance of the IRC isn't going to get the penalties and interest waived. So whether the casino reported it or not isn't going to save my clients butt.

Do I ask every client whether they went to the casino during the year? No. Would I make a broad statement on a public message board regarding not reporting income that has no paper trail? No.

I'm very honest. I would not condone cheating. But someone who stated that she's lost twice as much as she's won is a frequent patron, (daily, weekly, or several times a month) is not a vacation gambler who was one-time lucky. It's quite different than sweeps winnings, which is not gambling.

I'm thinking about those men & women who play bingo at the local casino from Mon thru Thurs, usually lose but sometimes win $100 or so. Or the slot players who play regularly, and sometimes go home with $50 more than they came with. The regular patrons really DO NOT keep track of those small wins or losses throughout the year, whether they "should" or not. It's impractical to do so, and they don't. They always lose in the long run anyway, unless they're lucky enough to hit one jackpot - which hope keeps them playing (and sometimes embezzling)

The casinos pay small wins in cash & nobody puts the whole shebang in their bank account - they use it to play again or celebrate, or whatever.

And - didn't I caution that offset losses may have to be proven? Very difficult to do. In the end, the client who's a regular casino patron is SUPPOSED to be honest, but will not be. It's not right but it's realistic. (If one of those player's comp cards is used, the casino can print out the gambler's net wins/losses for the year, but that can't be taken as an official document since one can play without using that card.)

And - if I were doing someone's taxes, I would ask if they had gambling winnings to report - especially if there were a local casino. Just as a reminder to the client & a CYA for yourself. LOL

No feathers ruffled, but I thought I'd explain my thinking. You're absolutely correct that gambling winnings should be reported.

Judithlh
November 26th, 2007, 9:38am
Re: Social Security I am collecting widow's benefits from Soc. Sec. The possibility of winning big did not worry me until one day, when I was daydreaming over what color of new car I might win, woke me up worrying over the SS rules. When I applied, and every year since, I receive a notice from SS on earnings limitations; so I can get a job, and earn a little, but not a lot or I will have to forfeit part of the Soc. Sec. income.

I went to the SS office right away and learned: a sweeps win is not earned income, but other income, so it should not affect your SS standing. They reassured me that if I win that nice new car, that I can accept it without losing my SS benefits.

Hope this helps with the original question.

mincognita
November 26th, 2007, 9:41am
I'm very honest. I would not condone cheating. But someone who stated that she's lost twice as much as she's won is a frequent patron, (daily, weekly, or several times a month) is not a vacation gambler who was one-time lucky. It's quite different than sweeps winnings, which is not gambling.

I'm thinking about those men & women who play bingo at the local casino from Mon thru Thurs, usually lose but sometimes win $100 or so. Or the slot players who play regularly, and sometimes go home with $50 more than they came with. The regular patrons really DO NOT keep track of those small wins or losses throughout the year, whether they "should" or not. It's impractical to do so, and they don't. They always lose in the long run anyway, unless they're lucky enough to hit one jackpot - which hope keeps them playing (and sometimes embezzling)

The casinos pay small wins in cash & nobody puts the whole shebang in their bank account - they use it to play again or celebrate, or whatever.

And - didn't I caution that offset losses may have to be proven? Very difficult to do. In the end, the client who's a regular casino patron is SUPPOSED to be honest, but will not be. It's not right but it's realistic. (If one of those player's comp cards is used, the casino can print out the gambler's net wins/losses for the year, but that can't be taken as an official document since one can play without using that card.)

And - if I were doing someone's taxes, I would ask if they had gambling winnings to report - especially if there were a local casino. Just as a reminder to the client & a CYA for yourself. LOL

No feathers ruffled, but I thought I'd explain my thinking. You're absolutely correct that gambling winnings should be reported.


Barbs, I wasn't questioning your integrity and I hope you didn't construe it that way.

Had you and I been having a private conversation as professionals, I'm sure you'dve explained your position and I'dve taken no exception to it.

What I do take exception to are statements made in these threads that suggest misc income that has had no paper issued does not have to be considered.

There could conceivably be 100,000 members reading this thread. If they read as far as your first post they may walk away with the impression that it doesn't have to be reported if there is no 1099..... because, let's face it, people "hear" what they want to hear.

tlannan
November 26th, 2007, 11:53am
This is basically what I said back in post #20.

This, and similar threads I've seen here, just go to prove that (where the tax code is concerned) what you don't know CAN hurt you.

Yes, you did. One thing I have learned in my job, though, is that repetition never hurts! :)

mincognita
November 26th, 2007, 12:07pm
Yes, you did. One thing I have learned in my job, though, is that repetition never hurts! :)

You are so right.

It would be even better if we had a listening audience. :rofl3::rofl3:

Julieb
November 26th, 2007, 12:11pm
Since the wins can be considered taxable income, I don't enter for prizes that I would not be able to afford the taxes on. My 9-yr.-old won a trip to NYC last year from Nickelodeon and fortunately it included $1000 spending money, which was almost how much money we spent on the taxes for that win.

LindaK
November 26th, 2007, 12:58pm
Re: Social Security I am collecting widow's benefits from Soc. Sec. The possibility of winning big did not worry me until one day, when I was daydreaming over what color of new car I might win, woke me up worrying over the SS rules. When I applied, and every year since, I receive a notice from SS on earnings limitations; so I can get a job, and earn a little, but not a lot or I will have to forfeit part of the Soc. Sec. income.

I went to the SS office right away and learned: a sweeps win is not earned income, but other income, so it should not affect your SS standing. They reassured me that if I win that nice new car, that I can accept it without losing my SS benefits.

Hope this helps with the original question. This is correct for SS or SSD but may be confusing to some on SSI.

A sweeps win is considered income but not earned income, it is classified as other income and must be stated as such when filing an income tax return.

Earned income is just that: earned, as in wages from employment and is subject to Federal, State and FICA (payroll) taxes.

Those that receive SSI are in a whole different category than those receiving SS benefits such retirement or disability (SS or SSD). SSI is based upon income from all sources, winnings included, and can be adjusted due to winnings and is most certainly considered income for taxation purposes, thus it must be reported to both SSA and the IRS. (someone on SSI may be able to expand further) The OP should seek advice from either a tax accountant or SSA for information regarding his particular situation.

barbs
November 26th, 2007, 1:08pm
Barbs, I wasn't questioning your integrity and I hope you didn't construe it that way.

Had you and I been having a private conversation as professionals, I'm sure you'dve explained your position and I'dve taken no exception to it.

What I do take exception to are statements made in these threads that suggest misc income that has had no paper issued does not have to be considered.

There could conceivably be 100,000 members reading this thread. If they read as far as your first post they may walk away with the impression that it doesn't have to be reported if there is no 1099..... because, let's face it, people "hear" what they want to hear.

I understand & you are right. (Unrealistic, but right. :grin5: )

mincognita
November 26th, 2007, 1:51pm
(Unrealistic, but right. :grin5: )

:rofl3::rofl3:

You can lead a horse to water....... :gvibes:

SFOSTER284
November 26th, 2007, 2:13pm
It's ordinary income, reportable to the IRS. If it's a large win, and no taxes are deducted by the sponsor, you have 90 days to file an "Estimated tax" form (or the IRS will penalize you). It has nothing to do with your social security status. It's ordinary income which you have to report to the IRS, and pay taxes on.

mistic
November 26th, 2007, 5:25pm
http://contests.about.com/od/taxesfinances/tp/payingtaxes.htm

Read this page, it has some helpful info from an 'expert' but even she says at the end to consult the IRS as well. Its a must read for newbies in my opinion.

elittle2004
November 26th, 2007, 6:05pm
How much is the prize worth? If you make above $8,450 you will have to pay taxes on the prize.

barbs
November 26th, 2007, 7:35pm
http://contests.about.com/od/taxesfinances/tp/payingtaxes.htm

Read this page, it has some helpful info from an 'expert' but even she says at the end to consult the IRS as well. Its a must read for newbies in my opinion.

Sweepstakes winnings (i.e., contests) are NOT the same as "gambling winnings" and tax treatments can be quite different.

pambanter
November 26th, 2007, 11:15pm
OP ASKED HOW IT WOULD AFFECT HER SOCIAL SECURITY BENEFITS. Not Taxes.

Specifically, she asked if sweepstakes winnings were considered EARNED INCOME, which is an easy YES or NO question. Sweepstakes winnings are not EARNED income.

barbs
November 27th, 2007, 12:15am
OP ASKED HOW IT WOULD AFFECT HER SOCIAL SECURITY BENEFITS. Not Taxes.

Specifically, she asked if sweepstakes winnings were considered EARNED INCOME, which is an easy YES or NO question. Sweepstakes winnings are not EARNED income.

Nope - she was concerned about TAXES!

pambanter
November 27th, 2007, 2:50am
I am collecting Social security and I just won a very large prize and today I occured to me that when I pay my taxes on the prize I must declare it as income, but I do not have a job, so is this considered "earned income"? Does anyone know about this?

Nope - she was concerned about TAXES!

She said...I know I must file taxes on my large win, but for SOCIAL SECURITY is this considered EARNED INCOME.

But, regardless, her question was....is sweepstakes income considered earned income. And the answer is NO for both SSDI and for taxes.

janess
November 27th, 2007, 3:32am
Just a note if you use a swipe card at the casino they can get you a list of how much you lost. I unfortunately know this but I would be afraid to ask because I am afraid to see what i really spent LOL

If you play slots, you would be shocked!!!

I used to work at a casino and the numbers still amaze me :goofy:

mincognita
November 27th, 2007, 10:05am
OP ASKED HOW IT WOULD AFFECT HER SOCIAL SECURITY BENEFITS. Not Taxes.

Specifically, she asked if sweepstakes winnings were considered EARNED INCOME, which is an easy YES or NO question. Sweepstakes winnings are not EARNED income.

That's how I interpreted it too.