For social security purposes, is retirement income computed in the 14,000$ maximum where they start deducting?
Question : For social security purposes, is retirement income computed in the 14,000$ maximum where they start deducting?
your social security payments? If you make around 14,000$ income, at age 62, they start deducting one dollar of social security for every two dollars income. Is retirement pay included in the 14,000$ ??>?
retirement income
Best answer:
Answer by Auntie Mame
The Social Security rules only include earned income for calculating deducting. A good rule of thumb is if social security taxes are taken out; it is earned income. Thus, interest, dividends, pensions (retirement pay), and sale of stock are not earned income.