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lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 28904
Experience:  Taxes, Immigration, Labor Relations
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How do distributions from an S Corporation impact earnings

Customer Question

How do distributions from an S Corporation impact earnings for social security purposes. I'm still working for a small business I own 25% of and will continue to received distributions but my salary will be around 15k per year.
Submitted: 11 months ago.
Category: Social Security
Expert:  lev-tax replied 11 months ago.
ONLY wages will affect your social security benefits.Income passed to you on K1 will not be included into earning for social security purposes - and will not be included into calculations of your social security benefits.That is regardless if that income was distributed or not.Questions?
Expert:  lev-tax replied 11 months ago.
.I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.