If I am on SSD and recently had to sell my home and I want to use the proceeds to purchase another home, how will this affect my disability payments?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I am on SSD and recently had to sell my home and I want to use the proceeds to purchase another home, how will this affect my disability payments?

Asked on August 5, 2012 under Real Estate Law, Texas

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The sale of a capital asset is not earned wage income and will not have any effect upon your ability to continue with your social security benefits presumably received on a monthly basis. Most likely, the proceeds from the sale of your home assuming there is a gain may not be taxable under federal and state tax laws. I suggest that you consult with a real estate/tax attorney further on the matter.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption