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Retirement tax questions
Whether you apply for social security benefits before the end of December or in the first week of January should not matter to your benefits. It may only delay your first payment by a month. As long as you are applying after age 70, you will be getting the maximum benefits that you can. In either case, you will not have any reporting for 2024 as you will not get any benefits paid to you until 2025. Here is a link that helps explain timing and your maximum delayed retirement benefits due to waiting until you turn 70.
https://www.ssa.gov/OACT/quickcalc/early_late.html
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‎July 26, 2023
12:13 PM