Social Security Questions? Ask a Social Security Expert
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In general, the Social Security Administration defines “earned income” as “income from wages or net earnings from self-employment.” For example, earnings may include bonuses, commissions, and severance pay. Investment income, pensions, capital gains, and inheritances are not considered wages. Other types of payment made by an employer may be considered earnings under certain conditions.
The IRS contribution does not reduce your income for SSA income penalty purposes. The rental income and interest income will not count as well.
See link on the subject from ssa: https://www.ssa.gov/planners/retire/whileworking2.html
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