Hi. Are IRA distributions considered income for the determination of taxation of social security benefit? My only income is what I withdraw from my IRA.
Thanks for your help.
Hi. I'm not an expert on income taxes, but any income that counts as part of your adjusted gross income for taxes would count when determining how much if any of your Social Security benefits are taxable. Some types of non-taxable interest can also be counted. For more information, refer to Social Security's website: https://www.ssa.gov/benefits/retirement/planner/taxes.html.
Best, Jerry
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Posted:
Jul 19 2021 - 9:17am