1

I received a Form SSA-L5114 and it says

"Based on information provided to us from Internal Revenue Service, we are reducing the amount of your self-employment income on your Social Security earnings record from $18,0927 to $14,538.0 for tax year 2019.

What does that mean?

My actual self employment income in 2019 was around $46,179. I am not retired and I have never claimed any benefits. Few years ago someone tried to claim unemployment benefits on my behalf and I called and reported it as fraud. Is this in regards to any of that?

Nosjack
  • 10,866
  • 1
  • 30
  • 58
Mary Doe
  • 759
  • 6
  • 13

1 Answers1

6

The SSA is tracking your annual reported income (self-employed or employed), so when you retire, they are able to calculate your SS payments.

What this means is that they think your self-employed income for 2019 is the number they wrote, and that will be the calculation basis for your SS pension. If you think this is wrong / too low, you need to follow up with them; otherwise you will get less SS pension when you retire.

Aganju
  • 38,107
  • 8
  • 59
  • 121