In other words, if Social Security is trying to decide whether you are eligible for SSI at the time you apply, it will look back at all the resource transfers you made in the 36 months before the date that you filed. If you are trying to sell real property or other resources that put you over the resource limit, you may be able to get SSI while you are trying to sell them. What Are the Social Security Disability Requirements For Personal Assets? You are allowed to sell a vehicle when you are on SSI. When an individual is eligible for past–due SSI benefits, Social Security must first reimburse the State if you received any monetary Interim Assistance, while you were waiting for your SSI decision. Would it make a difference if I sell it to a buyer or trade it in to a dealership for a new car? Can I Qualify For Disability and Receive Benefits based on Depression? Sometimes we “deem” a portion of the resources of a spouse, parent, parent’s spouse, sponsor of an alien, or sponsor’s spouse as belonging to the person who applies for SSI. When you meet for the drive, take a picture of their license and immediately send it to someone you trust. Selling items on Ebay while collecting Social Security Disability? I am on SSI. Not every transfer for less than market value will cause a penalty, because Social Security has a list of exceptions to the rule. Should You Sell Your Car Yourself?How To Pick the Right Price When Selling Your CarWhat Do I Do with My Totaled Car? Also, beware of professional car buyers who want to re-sell your car as soon as they get it. You can weed out potentially problematic buyers by having extended conversations on the phone with shoppers before agreeing to meet with them for a test drive. Do I need to cancel my insurance if I'm selling my car? © 2020 CarGurus, Inc., All Rights Reserved. You may even be able to receive benefits while you try to sell the excess resources in certain situations. (But SSI does not count your house or an inexpensive car toward the limit.) The ineligibility period starts with the month following the transfer, and the maximum penalty period is 36 months. More differences between Social Security Disability and SSI, how Social Security Disability and SSI work. They're all good / best answers and advice. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Ask us for more details. To qualify for SSI, you can have only $2,000 in assets, or $3,000 for a couple. We call this process the deeming of resources. Which one is she on? Can I sell my car while I'm paying off a loan? It’s also a great way to close the deal when you’re selling your car. Remember, SSI (Supplemental Security Income) is a welfare benefit and excess income and resources makes someone ineligible for the benefit. lol. What Can I Do to Improve My Chances of Winning Disability Benefits? Common resources that people have are cars, houses, and money in bank accounts. If I am selling numerous items on ebay, can this be considered a part time job and endanger my disability benefits? There are exceptions for: For the last exception, Social Security presumes that all transfers made for less than market value were made for the purpose of qualifying for SSI, and it is up to you to prove otherwise. Be sure to meet them during daylight hours and in a public place—they’ll want to be able to see the car clearly, and you’ll feel safer than meeting after dark. Does she need to notify SSA of the sale? We count amounts over the parents’ limits as part of the child's $2,000 resource limit. Some trusts (See the SSI Spotlight on Trusts). Thanks to everyone for the 3 answers I got. Your ineligibility period starts with the month following the transfer, so from March 1 through December 31, 2020, you would be ineligible for SSI. Even if you feel good about an interested buyer, there’s no need for them to know where you live or work. The month she sells the car and receives the $4500 it is income to her and it will make her immediately ineligible for SSI. SSI Benefits - who is Eligible and How do I apply for them? ;), We're allowed to give away our stuff. Getting SSI Benefits While You Try to Sell Excess Resources. Join Yahoo Answers and get 100 points today. Even better, you may be able to close the deal thanks to that test drive. You are able to buy are car while remaining on SSI benefits and it will generally not jeopardize your benefits. Why do people think I'm lazy they judge me because I am 27 years old waiting for ssi I can't work due to a couple of mental disabilities? Yes. I have enough now to help my mom make some decisions. What should you do when a Social Security Disability or ssi overpayment occurs? There are also two exceptions that would permit payment of all unpaid benefits due an individual to be paid in one lump–sum: if you have a medical condition that is expected to result in your death within 12 months; or. After the month she receives the income, it is counted as a resource. First of all, just to clarify, SSI is state, not federal Social Security. The market value of anything is what someone else is willing to pay you. In that sense, I really don't think she will realize $4,500. If you, your spouse, or a co–owner give away a resource or sell it for less than it is worth, you may be ineligible for SSI benefits for up to 36 months. I am a small seller of vintage. let's say the car had a market value of $2100. (With SSI, Social Security will generally take 10% of each of your monthly payments until the overpayment is paid back.). Please see our, How to Safely Arrange a Test Drive When Selling Your Car, How To Pick the Right Price When Selling Your Car, How To Sell a Car You Haven't Paid Off Yet. Selling Customer Info vs. Privacy, FMLA and Medical Benefits for a High Risk Pregnancy, If this is your first visit please consider. Yes. In some states SSI assets are tied to the same definitions state taxes use, and in some states the sale of an asset will effect the SSI. Once you feel good about meeting a shopper, set up a time for them to take your car for a test drive. To evaluate whether you made a problematic transfer, Social Security will calculate what the "market value" of the resource was at the time of the transfer and what compensation you got for the resource. Your conditional benefits cannot begin until after you sign the “agreement to sell property” form and we accept the agreement. She will become re-entitled to SSI once she has "spent down" the excess resource to under $2000. We're just not allowed to have excess income. How does the Social Security Disability Review work?