sell in e bay retirement ?

[cristian3_6]

my question is
My only job is e bay. If tomorrow I retire, will I collect retirement because I sell on e bay?
I've been selling in e bay for about 5 years
Thank you so much

[buyselljack2016]

Yes, you will be able to set up payments to yourself from the funds that YOU have deposited into YOUR personal retirement fund over the past 5 years.

If you spent all the money that you made then................   no, there will be no retirement payments mad e to you.

[glasser]

Being self-employed doesn't exempt you from paying into Social Security (assuming you are US based). If you have been reporting income and paying taxes and SS, the once you reach retirement age yes you could collect SS

[cubano4u]

You pay into SS the entire time that you are reporting wages earned. It makes no difference if you are self employed, it's based on earned wages. The way you've written your question is full of holes. What did you do before you starting selling on eBay? 

[ainpie-10]

There are no retirement funds from eBay. 

[ckimodog]

No retirement, no insurance, no holiday pay...nada.  

[iart]

The way I read your question is that you've been selling on eBay for 5 years. You never had another job. This is the only income you have ever had. You are asking if you can collect Social Security.

Obviously, you should speak to an accountant rather than relying on these answers (including mine).

My question is: Have you been declaring your on-line sales income on your taxes and paying your Social Security taxes? If so, maybe, probably depending on how much you paid in.

Even after you begin collecting Social Security, at certain ages you still have to declare your income and, if it reaches a certain point, you might have your payments reduced by that amount. I think that once you hit a certain age, maybe 67 (not sure) there is no limit on the added income you can make.

[cristian3_6]

hello everyone thanks for answering
Yes, every year I pay with the tax accountant
about e bay, taxes and all that

[auctionpet]

You must have accumulated at least 40 quarters of work in "covered employment" in order to qualify for Social Security upon turning 62 (if applying for early benefits). A quarter is based on 3 calendar months (4 per year). In addition, you must earn at least $1,470 in a quarter (in 2021) for it to count.

With only 5 years paying into Social Security that's just 20 quarters, you need another 20 quarters to qualify if you also reach the $1470 earnings per quarter.

It's based on quarters versus years, as people may not work every year. Understand the amount you receive is based on the amount paid in, which is why benefits vary greatly per individual. Even if you reach 40 quarters, which is just 10 years combined work, you'd need to make a good amount of money in that time to receive much of anything in benefits. Most people who collect social security have paid in for at least 40 years!

[dhbookds]

Ebay has no retirement benefits.............if you are paying into soc sec, you should be able to collect benefits from them IF you have paid in enough quarters.......which think is 40.........i.e. paid in for 10 yrs........

[mtgraves7984]

You will not collect retirement from eBay.

[chapeau-noir]

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@cristian3_6 wrote:

hello everyone thanks for answering
Yes, every year I pay with the tax accountant
about e bay, taxes and all that

---

Then your accountant is the best person to ask this question, and can give you more detail because they're aware of your own tax situation.

[this*old*attic]

Not unless you either saved on the side, or else declared your earnings and paid self employment taxes (which include social security)....

BUT, haven't you had regular jobs prior to the 5 Ebay years? Those would have taken out Social Security.

[katzrul15]

@cristian3_6 

What did you do before you sold on e-bay for 5 years?  Did you work and pay into fica/futa with an employer of some sort?  

[nobody*s_perfect]

If your age makes you eligible for Social Security, then you do not have to retire from selling on eBay to collect SS payments. Depending on your age, you might have reduced payments if your eBay earnings are above a specific threshold (currently about $18,000)..

https://www.ssa.gov/benefits/retirement/planner/agereduction.html