unemployment comp and unearned income…
Would withdrawing TIRA $ take away from receiving unemployment benefits? Client has been unemployed since Oct 2009, but over 59 1/2. I wouldn’t think so because the TIRA money would be considered “unearned” income. Any comments appreciated!
Permalink Submitted by Alan Spross on Tue, 2010-10-19 17:28
You are correct. UC benefits are not affected by investment income, although the investment income including an IRA distribution can contribute to a higher income tax on the UC benefits.