What would you like to do?

Is an IRA withdrawal considered earned income by social security?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Is an IRA withdrawal considered earned income by social security?
no - after age 70 1/2
4 people found this useful
Thanks for the feedback!

Does social security count in income for earned income?

No, earned income includes wages, salaries, tips, other taxable employee compensation, and net earnings from self-employment. Earned income also includes strike benefits and a

Is deferred compensation considered earned income for IRA contribution limits?

Unfortunately Deferred Compensation is not considered earned income for IRA deduction limits. See IRS publication 590, page 7, table 1-1. Here it specifically has Def Comp pla

Is 401K savings considered earned income while collecting Social Security?

No. Distributions from a 401k are unearned income for Social Security purposes, and do not affect the benefit amount you receive under regular SS retirement or SSDI (disabilit
Does non earned income affect Social Security compensation?

Does non earned income affect Social Security compensation?

Unearned income would NOT count as part of the income for the earnings test amount on your social security benefits amount. Unearned income could cause some of your SSB to bec

Does social security recognize an annuity as earned income?

Only if your taking an income stream from it. A way around this would be to move the funds into a single premium whole life product and borrow from the life insurance policy.
Is Social Security earned income?

Is Social Security earned income?

No. The Social Security benefits would be a part of all of your other Unearned Income for the year. You are not working for the benefits that are paid to you during each year.

What is the difference between an IRA and Social Security?

In simplest terms, it is a privately held retirement plan which rewards you for doing something that you should be doing anyway....saving for your old age. Social Security is

Can you deposit social security benefits into an IRA?

Social security benefits is not qualifying earned income that you can use to contribute to a IRA account. There are three categories of qualifying income that can be used to m
How much income can you earn in 2010 and collect Social Security at age 62?

How much income can you earn in 2010 and collect Social Security at age 62?

If you are 62 years old in 2010, you will reach full retirement age at 66. Under 2010 SSA guidelines, people who have not yet reached full retirement age can earn only $14,160

Can you contribute to your IRA if you are drawing social security?

  You can contribute to an IRA if you are not yet 70 1/2 and have some source of W-2 / 1099 self employment income. Social security payments are NOT considered income that
Does winnings from the casino count as earned income for my social security?

Does winnings from the casino count as earned income for my social security?

Gambling proceeds are not considered earned income if you do not report the income a self-employment income. Professional gamblers report gambling as self-employment income in

Are pension and IRA payments considered earned income?

Definitions: Earned income - is received from services performed. For example, wages, commisions, tips, and business income. Unearned income - is generally income that the d

How much income can you earn and still draw early Social Security at age 62?

2010 and 2011 If you are 62 years old in 2010, you will reach full retirement age at 66. Under 2010 SSA guidelines, people who have not yet reached full retirement age can ea
What is considered income while on Social Security?

What is considered income while on Social Security?

Social Security only considers earned income from an employer or self-employment, up to a cap of $106,800.00, to count as income for their purposes. Typical sources of unear