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Many people perceive social security strictly as a pension benefit. And it is true that it is a crucial element of many people’s pension schemes that finance around 40% of the average person’s pension expenditure. But 29.1% of Social security recipients in 2021 were not retired workers. These persons included people who had become disabled and survivors from deceased workers. And millions of them were teenagers.
In 2019, 2.8 million people under the age of 18 claimed social security benefits with an average monthly benefit of $ 627.52, according to a fact sheet on social security. In addition, more than 113,000 students aged 18 and 19 received social benefits.
A teenager or a child may qualify for Social Security payments if they are born blind or disabled, depending on the income of the parents in their household.
If a parent dies, a surviving child may be entitled to their social security pension. The child or teenager can receive up to 75% of the deceased parent’s basic social security benefit, according to the Social Security Administration. However, a family can only receive a total of 150% to 180% of the deceased parent’s full benefit amount, distributed among all eligible family members.
Social benefits above certain thresholds are taxed and the income must be reported on Form 1040. A teenager or a child, like an adult, must file a tax return for their social security income if the total half of their social security benefits plus all their other income is greater than $ 25,000. This is the “basic amount” that applies to the application status of individual taxpayers.
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