Income drop due to retirement

So, I am retiring soon and my earned income will drop about 95%. I will make it up through unearned income such as pension, annuities and such. Does income mean earned income, or can it include unearned income?

NOTE: I'm not on the forum every day. If someone comments on my post, I might not reply right away. I've been a shopper since 1991. I've never done any work for a MS company in any other capacity.

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It depends in what context. If you are doing a registration for an MSC, use all income--earned, unearned and even that which is accrued but not realized. So in a good year my income will be no W-2 income, self-employment income, pension money received as well as the growth during the year in my self controlled IRA plans even if I have not taken it out.

Your income is everything you get from any source.

Mary Davis Nowell. Based close to Fort Worth. Shopping Interstate 20 east and west, Interstate 35 north and south.

A good CPA will take care of it for you.

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Income drop due to retirement

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