marvin2it
Employee Tax Expert

Retirement tax questions

Excerpts from the link below:

"When we figure out how much to deduct from your benefits, we count only the wages you make from your job or your net profit if you're self-employed. We include bonuses, commissions, and vacation pay. We don't count pensions, annuities, investment income, interest, veterans benefits, or other government or military retirement benefits."

"If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024, that limit is $22,320."

 

 

https://www.ssa.gov/benefits/retirement/planner/whileworking.html#:~:text=your%20excess%20earnings.-....

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