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Level 1
posted Aug 30, 2023 12:01:44 PM

Hello. I am 65 in a few weeks, but still need "4" Points to qualify for Retirement Social Security & Medical benefits. This is a Reverse question: How much income do I need to earn/ claim, in order to get these 4 remaining points in tax year 2023?

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1 Best answer
Employee Tax Expert
Aug 30, 2023 12:06:45 PM

Hello @ DBH!

 

Thanks for the great question! According to SSA.gov, "In 2023, you earn 1 Social Security and Medicare credit for every $1,640 in covered earnings each year. You must earn $6,560 to get the maximum 4 credits for the year."

 

Source: https://www.ssa.gov/benefits/retirement/planner/credits.html

3 Replies
Level 15
Aug 30, 2023 12:05:30 PM

You are asking a question in the income tax forum that you should be asking Social Security.

 

https://www.ssa.gov/

Employee Tax Expert
Aug 30, 2023 12:06:45 PM

Hello @ DBH!

 

Thanks for the great question! According to SSA.gov, "In 2023, you earn 1 Social Security and Medicare credit for every $1,640 in covered earnings each year. You must earn $6,560 to get the maximum 4 credits for the year."

 

Source: https://www.ssa.gov/benefits/retirement/planner/credits.html

Level 1
Aug 30, 2023 12:18:23 PM

thank you Gabrielle!

DBH