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Social Security on Investment Income
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Taxes
Social Security on Investment Income
<font size="1">Can you take a tax deduction on that recent purchase? Talk to others to get free tax advice and get tips on how to complete your IRS federal tax forms.</font>
Does anyone know if I will be paying the same Social Security deduction on earned income from investments and my IRA withdrawrals, as I did with my salaried/work income? I know the tax deductio
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Cat:827966ee-6d39-4ef7-98a5-0157a43092f8Forum:a882faf9-edb3-472d-896c-a5e64a486dfc
Cat:827966ee-6d39-4ef7-98a5-0157a43092f8Forum:a882faf9-edb3-472d-896c-a5e64a486dfcDiscussion:5798055d-eefa-404c-a0fd-028950d1d1b5
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Social Security on Investment Income
posted at January 5, 2013 5:38 PM EST
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Posts: 1
First: January 5, 2013 Last: January 5, 2013 |
Does anyone know if I will be paying the same Social Security deduction on earned income from investments and my IRA withdrawrals, as I did with my salaried/work income? I know the tax deduction is difference on work income vs investment income, but how does that relate to the Social Security tax? |
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Re: Social Security on Investment Income
posted at January 5, 2013 7:59 PM EST
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Posts: 1923
First: November 27, 2011 Last: May 18, 2013 |
In Response to Social Security on Investment Income: Does anyone know if I will be paying the same Social Security deduction on earned income from investments and my IRA withdrawrals, as I did with my salaried/work income? I know the tax deduction is difference on work income vs investment income, but how does that relate to the Social Security tax? Posted by davidmalonezhills No it is not the same as when you were working. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status. Here is the IRS Tip Sheet for 2011 on Are Your Social Security Benefits Taxable? The income threshold limits might change for Tax Year 2012 but not by much - Hope this helps. |
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Re: Social Security on Investment Income
posted at March 11, 2013 3:35 PM EDT
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Posts: 956
First: September 16, 2011 Last: May 24, 2013 |
In Response to Re: Social Security on Investment Income: In Response to Social Security on Investment Income : No it is not the same as when you were working. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status. Here is the IRS Tip Sheet for 2011 on Are Your Social Security Benefits Taxable? The income threshold limits might change for Tax Year 2012 but not by much - Hope this helps . Posted by GailL1 April brings spring flowers , and the IRS! You can find an AARP Tax Aide Volunteer here: But, at least there are some wonderful people who volunteer to help folks get their taxes prepared! AARP Tax Aide
Did you do your taxes, yet?? Or, do you plan on requesting an extension? Find more information here: Tax Preparation Help |
