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CGCPA
CGCPA, CPA
Category: Tax
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Experience:  over 40 years experience in tax matters
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I receive Social Security Disability Income monthly to the

Resolved Question:

I receive Social Security Disability Income monthly to the tune of approximately $2,000. Wy wife in employed and earns approximately $45,000 annually. If I start actively trading stocks, etc. will the profits I make have an impact on my disability? Also I am 60 years old and want to use my Roth IRA as my trading account. Are there limitations to doing this?
Submitted: 6 years ago.
Category: Tax
Expert:  CGCPA replied 6 years ago.

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

 

The Social Security disability benefit is not impacted by your income from trading securities. The benefit is only effected by earned income from work which is, simply put either W-2 earnings (a job) or self employment income. Trading does not qualify as either so you will be fine there.

 

There are limitations to the things you can do with a Roth IRA account and this is one of the limiting areas. It is not permitted. If you do this you will jeopardize the tax free treatment of the account. Investing is permitted but day trading is not.

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