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Is retirement considered income?

 
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3 Replies
TomK2023
Expert Alumni

Is retirement considered income?

Maybe.  If you receive retirement benefits in the form of pension or annuity payments from a qualified employer retirement plan, all or some portion of the amounts you receive may be taxable unless the payment is a qualified distribution from a designated Roth account.

 

However, it is not considered income for the Earned Income Tax Credit.

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Is retirement considered income?

Yes.   Do you have Social Security or some retirement income such as a pension, income from an IRA, 401k etc.?   

 

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

 

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

 

 

Who has to file?

http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

**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.**
robtm
Level 10

Is retirement considered income?

Yes, retirement income from pensions, IRA, annuities. social security {depending on other total income), investments, etc. are considered taxable income.

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