Ask Social Security Questions and Get Answers ASAP
My name is***** and I will be helping you with your question today . This is for informational purposes only and does not establish an attorney client relationship.
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
Please let me know if you have any further questions and please positively rate my answer if satisfied. There should be smiley faces or numbers from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated for my time by the site.
Just checking back in, do you have any further questions?