The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: social security loss||Date: 2/13/1999 7:01 PM|
|Author: TMFTaxes||Number: 10154 of 122846|
[[Have a friend receiving social security payments. she wants to sell some stock,
but doesn't know how this will effect her benefits.]]
It won't. Not in the least.
Now, part of her social security benefits may become TAXABLE, depending upon her income. But her benefits, per se, will not be reduced or otherwise eliminated.
[[....do capital gains (if over the
limit of earned income allowed) result in the loss of some or all of her
benefits.?....does that also appy to ira dispersments?]]
Capital gains are NOT considered earned income...and therefore will not impact her benefits. But, as noted, the benefits may be taxable. Read more about taxable benefits in the Taxes FAQ area. Check it out.
Want to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|