Question

I'm taking my first RMD in 2024 and having taxes deducted. I retired & haven't had to pay taxes in 22/23. How do I estimate the amount I'll owe for 2024 with SS?

Forum|Forum|2 years ago
April 5, 2024
1 reply
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How do I estimate taxes due on SS for 2024?
My AGI was low and I had no taxes due in 2022/2023.

TurboTax Deluxe Online

Employee

I recommend a calculator, see How much of my social security benefit may be taxed? It will even show you how it got the answer along with a graph.

SSA Retirement Benefits states: You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

You can make estimated payments with the IRS at Make a Payment or you can have social security withhold payments at SSA Retirement Benefits

Reference: SSA