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Alekrisum
Level 2
July 31, 2025
Question

Business loss

  • July 31, 2025
  • 3 replies
  • 25 views

How to get Social Security credits when you incur a business loss

3 replies

Jim-from-Ohio
Jim-from-OhioIntuit Community Champion
Intuit Community Champion
July 31, 2025

1. make a profit

2. get a W-2 job

3. marry someone that has enough credits and stay married long enough and get divorced?

    BobKamman
    BobKamman
    Level 15
    July 31, 2025

    You might qualify for the Nonfarm Optional Method. 

    https://www.irs.gov/instructions/i1040sse#en_US_2023_publink100046084 

    I used this once for a client who had worked her entire career in the federal Civil Service.  After she retired, she dabbled in real estate, usually selling one or two listings a year.  In her 70s she needed a few more quarters, and this worked.  She lived into her 90s, collecting about $55 a month.  

      TaxGuyBill
      July 31, 2025

      In ProSeries, click the "Where Do I Enter?" button and type "SE".  Then open the Schedule SE Adjustments Worksheet.

      Scroll down to Part IV and check the box to use the NonFarm Optional Method.  But be sure the client qualifies to use that method.

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