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Does social security count K1 LLC income toward the income limit for receiving social security benefits? This relates to a 2014 return.
June 5, 2019
4:43 PM
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Retirement tax questions
In most cases, yes.
Unless you were a Limited Partner and did not work for the LLC, the income on your Partnership K-1 would be 'earned' income. If that is the case, there would usually be a number in box 14 of your K-1, and that counts towards the Social Security earnings limit if you were under full retirement age.
June 5, 2019
4:43 PM
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Retirement tax questions
Need further answer. If I am a limited partner in a Llc - I only gave initial money- is any profit unearned or earned income - worried about my social security widows benefit.
July 16, 2019
9:04 AM