This year, your $63-$year$-$old client had $$20,000$ of earned income and $$30,000$ of investment income. He was also drawing Social Security benefits. Which one of these correctly describes the impact on his Social Security benefits?

A$)$

He loses $$1$ of benefits for every $$1$ above the allowable limit$.$

B$)$

There is no reduction to his benefits.

C$)$

He loses $$1$ of benefits for every $$2$ above the allowable limit$.$

D$)$

He loses $$1$ of benefits for every $$3$ above the allowable limit$.$