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I’m looking for the IRS definition of passive income that might be acquired by persons on social security retirement or disability. I was told passive income is not reportable or taxable as regular income, wages, self employment income, etc. But it would be reportable of course, if the passive income was from stock sales. So, what is the IRS definition of passive income and some examples of the types of income that are considered passive. Thanks.
ok, my question is though taxable, if it is, how does it affects someone’s social security benefits? Does passive income count as "extra" income to s.s. benefits?
live.pirillo.com – A few years ago, I got the crazy idea of selling things on my chest. I had offended someone, and made up for it by writing the apology on my chest. I actually ended up making a couple grand by having things written on my chest.