w-2 Box 11
client had a distribution from a non qualified compensation program – the income was included on their w-2 in box 11 – does income that is reported in box 11 get excluded from the social security earnings limit or will we have to include this income when we discuss whether they can work and collect social security – I know this is not an IRA question but thought someone might know
Permalink Submitted by Alan Spross on Mon, 2007-11-12 23:35
I believe Box 11 shows income earned in another calendar year, therefore it should not count toward the earnings test. The amount that should count would be Box 1 less Box 11, which is also the figure that applies when determining the amount of taxable compensation qualifying for an IRA contribution.