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New Member
posted Jan 15, 2020 12:15:09 PM

Is social security considered as nonqualified retirement income?

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2 Replies
Expert Alumni
Jan 15, 2020 1:24:37 PM

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) plans, 403(b) plans, SARSEP plans, SEP-IRA plans, and SIMPLE IRA plans.

Level 15
Jan 15, 2020 8:13:07 PM

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.