Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
lethompson7680
New Member

Is social security considered as nonqualified retirement income?

 
2 Replies
HelenC12
Employee Tax Expert

Is social security considered as nonqualified retirement income?

If you are referring to qualified versus non-qualified retirement plans, no, Social Security is not considered a non-qualified or qualified retirement plan.

  • Non-qualified plans are those that are not eligible for tax-deferral benefits ERISA.
  • Qualified plans are designed to offer individuals added tax benefits on top of their regular retirement plans. Here are some examples of Qualified plans:  401(k) plans403(b) plansSARSEP plansSEP-IRA plans, and SIMPLE IRA plans.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
xmasbaby0
Level 15

Is social security considered as nonqualified retirement income?

That you are asking that question is a clue that you are trying to enter your SSA1099 in the wrong place.

 

Go to Federal> Wages & Income>>Retirement Plans and Social Security  (SSA1099 and 1099RRB) to enter your SSA1099.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v