Posted by Texasmark1 on February 10, 2012 at 15:32:28 from (67.142.164.25):
In Reply to: Re: Taxes posted by George Marsh on February 08, 2012 at 09:01:46:
It has to be new "earned income" to qualify. If you are retired you have to earn income to contribute, no rolling IRA withdrawal money over to qualify for the credit because you spent too much last year and want to decrease your tax burden for 2011. Any income is a 2 for 3 loss with your SS so you essentially pay 30% taxes on that income you earn after retiring......so why work?
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