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Level 5
December 3, 2024
Question

Roth IRA and social security

  • December 3, 2024
  • 2 replies
  • 8 views

I was asked this by another accountant, and I'm having a major brain fart for some reason...

68 year old client with wife 60 years old.  He's wondering how much his wife can take out of her Roth IRA before it causes more taxes to be taken out of his social security.  I'm under the impression it wouldn't, because roth ira distributions wouldn't affect social security at all, because they're not taxable, but am I missing something?

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2 replies

Jim-from-Ohio
Intuit Community Champion
December 3, 2024

Not missing anything.. qualified distributions from Roth IRAs are tax free so no impact on social security taxablity.

qbteachmt
Level 15
December 3, 2024

"before it causes more taxes to be taken out of his social security."

I always like an opportunity to explain withholding to clients. I find if I state it properly, it soothes their concern.

Not only will nothing change for the social security amount, it also is moot for tax reporting, because she is over 59 1/2.

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