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Investors & landlords
This question is extremely important when it comes to whether your SS income at your full retirement age is taxed based on "earned income" vs "passive income" criteria which Turbotax should ask you and determine; one (earned) will result in your SS being taxed (if the income is over a certain amount) whereas the other one (Passive) will result in your SS "not" being taxed. In both rental income type scenarios, the rental income itself will be taxed of course, this is just about whether the SS income portion will also be taxed up to 85% or not.
March 15, 2021
11:17 AM