medical
I have a client that will be applying for social security and they have to disclose all their income. we need to know if they had made a contribution to a 529 plan would that be counted as their income or not. do you know?
I have a client that will be applying for social security and they have to disclose all their income. we need to know if they had made a contribution to a 529 plan would that be counted as their income or not. do you know?
Permalink Submitted by Alan Spross on Wed, 2009-11-18 00:41
I presume the income inquiry by SSA is to determine the most recent estimate of the primary benefit and also any earnings penalty. A 529 contribution (or distribution) would not be reported because it is not earned income for determining SS benefits.