1) Social Security benefits may be taxed if you have enough income from **any** other source be it job, pension,401K, 403b, Roth IRA, or whatever.This one is close to true. Anywhere from none to 85% of your SS benefit goes into your gross income, depending on what other income you have. You can see the calculation in the worksheet for line 20 of the 1040.2) Social Security benefits may be taxed if you have enough **earned** income; income from investments, retirement accounts, pensions, and so forth do not affect the taxation of Social Security benefits.This one is false, but I suspect it's a twisting of another rule. If you're below Full Retirement Age and receiving SS benefits there's a limit to how much earned income you can have. If you exceed that amount your SS benefit is reduced. You can read about this at www.ssa.gov.PhilRule Your Retirement Home Fool
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra