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To get this straight I can withdrawn from my IRA account and…

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to get this straight I...
to get this straight I can withdrawn from my IRA account and it will not affect my paid $1 for every $2 I have over.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: 11 months ago.Category: Tax
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Answered in 25 minutes by:
9/8/2017
Tax Professional: Lev, Tax Advisor replied 11 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,301
Experience: Taxes, Immigration, Labor Relations
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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.

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Tax Professional: Lev, Tax Advisor 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 Social Security / Tax related issues.

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