Do 401 (k) Withdrawals Count as “Earnings” to Social Security? Posted on . Anyone who claims their Social Security before reaching full retirement age is subject to Social Security’s so-called “earnings test” which limits how much you can earn before they take back some of your benefits. But people are often confused about what Social Security actually …
By the same token, contributions to your IRA or 401(k) cannot be deducted from income for purposes of the earnings test. Social Security uses your gross income before tax-deferred allotments to determine your earnings. Keep in mind. Income from all sources does go into determining whether and what portion of your Social Security benefits are taxable.
Do 401(k) Withdrawals Count as “Earnings” to Social Security?
The income thresholds are based on your “combined income,” which is equal to the sum of your adjusted gross income, which includes earned wages, withdrawals from any retirement savings accounts s, any non-taxed interest earned, and one-half of your Social Security benefits). If you take large distributions from your traditional 401 in any given year that you …
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Social Security Income Limit: What Counts As Income? Video Answer
