Question:
If you own a stock or a mutual fund that is under $1,000, does it affect your social security income, or is it classified as earned income? Can Social Security find out if someone owns a stock or a fund, even if it's a small amount ? For a small account, should a social secuirty reciepeint file taxes, or have it withheld ?
Answer:
Yes, mutual funds to impact social security/disability benefits, because they are an asset, and you have the ability to make withdrawals on the earnings at any time, even if there will be an excise tax applied.
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