I would like to withdraw 35,000.00 from my 401k this year ,I will have about 15000.00 in other income. I am 66 yrs old ,my husband and I have about35,000.00 in s.s income

Because the amount of Social Security income that gets taxed varies from 0% or the SS income to 85% of the SS income, it is important for taxpayer on Social Security to do a bit of tax planning before making sizable retirement withdrawals.

Your 401(k) distribution will definitely cause a lot of your SS to be taxable, more than you are accustomed to.

If you have a financial planner ask him/her to run the numbers, so that you can know how much to withhold on your 401(k) distribution. Seniors all too often are stuck with a surprise tax bill at year-end when they don't withhold enough on the distribution, because you have to withhold for the distribution itself as well as for the additional SS tax.

Take a look at this IRS page which specifically speaks to retired taxpayers and how they can figure out the tax impact of a retirement plan or IRA distribution.