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Does 1099 Income Affect Social Security Benefits?

Yes, 1099 income can affect Social Security benefits. As self-employment income, it is subject to self-employment taxes (Social Security and Medicare), which contributes to your lifetime earnings record. This record is crucial because your highest 35 years of indexed earnings determine your future Social Security benefit amount; generally, higher lifetime earnings result in higher benefits. However, if you are already receiving Social Security benefits before reaching your full retirement age (FRA), and your 1099 income, combined with any other earned income, exceeds the annual earnings limit, your benefits may be temporarily reduced or withheld. This is known as the Social Security earnings test. Once you reach your FRA, the earnings test no longer applies, meaning you can earn any amount from 1099 work or other employment without your Social Security benefits being reduced.

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