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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29965
Experience:  Taxes, Immigration, Labor Relations
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To get this straight I can withdrawn from my IRA account and

Customer Question

to get this straight I can withdrawn from my IRA account and it will not affect my paid $1 for every $2 I have over. I have to file it on my income taxes right.
Submitted: 1 month ago.
Category: Tax
Expert:  Lev replied 1 month ago.

That is correct - only EARNED income may affect your social security benefits.

Earned income is from wages and self-employment income.

Other income types - pensions,m IRA distributions, rental income, interest in the bank, capital gains, etc - will NOT affect your social security benefits.

Thus - IRA distributions will NOT affect your social security benefits and will NOT be counted toward the $16,920 annual limit.

.

But IRA distributions are generally taxable - and yes - you will report that distribution on your income tax return.

Expert:  Lev replied 1 month ago.

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I am here to help you with all Social Security / Tax related issues.