Log in

View Full Version : What is income while on social security


jaggged
Feb 18, 2010, 06:20 PM
I am trying to understand what is considered income while receiving social security benefits? I know W2 income is, but are there other forms of income such as 1099, rental income, etc?

ebaines
Feb 19, 2010, 07:35 AM
Your SS benefits may be affected by the amount of your "earned income," which basically means salary, wages and tips. It is not affected by unearned income - such as interest, dividends, capital gains, pensions, or withdrawals from your retirement savings plans - IRA, 401(k), or 403(b) for example. So it depends on what type of 1099 you're talking about - if you are a contractor and receive a 1099 from a client, then it's earned income. But if it's a 1099-INT, 1099-DIV, 1099-R, or 1099-B - then it's not.