vpFREE2 Forums

DIAD (long and probably too much info for most)

#1

How do SS payments change when you are getting W2G's? They are not figured into the formula for determining how much a person receives for their SS benefit unless you file as a business, ie, professional gambler. Are you also working?

I know AGI affects people who get W2G's, but I've never heard of that making a $4000 win translate it into costing them anything net.

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From: "lfcmja@verizon.net"

I recently turned 65 and saw my SS benefits drop in spite of the recent cola increase, due to a higher AGI caused by my casino W2G's.

#2

Medicare has been means tested for about three years now, and the extra Medicare premiums are taken out of one's Social Security benefit. Maybe you aren't involved with Social Security benefits yet. That could explain the lack of knowledge about why so many players want to avoid W-2G's.

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On 2/20/2012 3:32 PM, rob.singer1111@yahoo.com wrote:

How do SS payments change when you are getting W2G's? They are not figured into the formula for determining how much a person receives for their SS benefit unless you file as a business, ie, professional gambler. Are you also working?

I know AGI affects people who get W2G's, but I've never heard of that making a $4000 win translate it into costing them anything net.

#3

Rob

What he is talking about is the Medicare portion of SS. Medicare premiums
are adjusted based upon ones AGI. Mine have been impacted over the past 3
years because of significant W2 G's.

J. T.

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From: vpFREE@yahoogroups.com [mailto:vpF…@…com] On Behalf Of
rob.singer1111@yahoo.com
Sent: Monday, February 20, 2012 3:33 PM
To: vpFREE@yahoogroups.com
Subject: Re: [vpFREE] Re: DIAD (long and probably too much info for most)

How do SS payments change when you are getting W2G's? They are not figured
into the formula for determining how much a person receives for their SS
benefit unless you file as a business, ie, professional gambler. Are you
also working?

I know AGI affects people who get W2G's, but I've never heard of that making
a $4000 win translate it into costing them anything net.

____________________

From: "lfcmja@verizon.net <mailto:lfcmja%40verizon.net> "

I recently turned 65 and saw my SS benefits drop in spite of the recent cola
increase, due to a higher AGI caused by my casino W2G's.

[Non-text portions of this message have been removed]