Retirement Income Calculator
Free retirement income calculator. Estimate total monthly income from Social Security, pensions, annuities, and portfolio withdrawals. Identify income gaps and plan for a secure retirement.
Retirement Tax Estimator Calculator
Free retirement tax estimator for 2026. Project federal income tax on Social Security, 401(k) withdrawals, pensions, and other retirement income including IRMAA surcharges.
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Wages, interest, dividends
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Estimated Federal Tax
$5,062.00
Effective rate: 7.70% on $66,000.00 gross income
After-Tax Income⧉
$60,938.00
$5,062.00 in federal tax
Marginal Rate⧉
12.00%
On next dollar of income
SS Taxable⧉
85.00%
$20,400.00 of $24,000.00 taxable
Standard Deduction⧉
$18,150.00
Includes 65+ bonus
Tax Bracket Breakdown
| Bracket | Income in Bracket | Tax |
|---|---|---|
| 10.00% | $12,400.00 | $1,240.00 |
| 12.00% | $31,850.00 | $3,822.00 |
| Total | $44,250.00 | $5,062.00 |
Income Flow
| Social Security | $24,000.00 | 85.00% taxable |
| 401(k)/IRA Withdrawals | $30,000.00 | 100% taxable |
| Pension | $12,000.00 | 100% taxable |
| Other Income | $0.00 | 100% taxable |
| Total Gross | $66,000.00 | |
| Less: Federal Tax | ($5,062.00) | |
| After-Tax Income | $60,938.00 |
Tax Impact of Withdrawal Amount
| IRA Withdrawal | SS Taxable | Federal Tax | Effective Rate |
|---|---|---|---|
| $0.00 | 0.00% | $0.00 | 0.00% |
| $10,000.00 | 18.80% | $835.00 | 1.80% |
| $20,000.00 | 54.20% | $2,974.00 | 5.30% |
| $30,000.00 ← | 85.00% | $5,062.00 | 7.70% |
| $40,000.00 | 85.00% | $6,647.00 | 8.70% |
| $50,000.00 | 85.00% | $8,847.00 | 10.30% |
| $60,000.00 | 85.00% | $11,047.00 | 11.50% |
| $80,000.00 | 85.00% | $15,447.00 | 13.30% |
| $100,000.00 | 85.00% | $20,018.00 | 14.70% |
Uses 2026 federal tax brackets, standard deductions, and Medicare IRMAA thresholds under existing law. Does not model the separate 2026 enhanced senior deduction, state taxes, NIIT, or AMT. Consult a tax professional for your specific situation.
Planning notes, formulas, and examples
About the Retirement Tax Estimator Calculator
The Retirement Tax Estimator Calculator projects your federal income tax bill in retirement across all common income sources: Social Security benefits, traditional IRA/401(k) withdrawals, pensions, investment income, and part-time work. Many retirees are surprised to find that up to 85% of Social Security benefits can be taxable.
This calculator applies 2026 federal tax brackets, the 2026 standard deduction under existing law, and the Social Security taxation formula to give you a realistic after-tax picture. It also checks 2026 Medicare IRMAA thresholds to alert you if higher Part B/D premiums apply.
Understanding your retirement tax burden is essential for withdrawal sequencing, Roth conversion planning, and ensuring your nest egg lasts as long as you need it to. For example, a married couple drawing $40,000 from Social Security and $50,000 from a Traditional IRA may owe $6,000 to $9,000 in federal taxes depending on their deductions — yet many retirement projections use pre-tax figures that significantly overstate available spending. Accounting for the tax wedge early allows you to build a more realistic income plan and identify opportunities for Roth conversions during lower-income years. This calculator keeps the year-specific IRS and Medicare assumptions current, but it does not model every 2026 retirement-law change.
When This Page Helps
Tax planning in retirement is often more complex than during working years because of the interaction between Social Security taxation, RMDs, and investment income. A $1 increase in IRA withdrawals can cause $0.85 of Social Security to become taxable — a hidden marginal rate most retirees don't expect. This calculator makes those interactions visible so you can optimize your withdrawal order while keeping the 2026 federal assumptions transparent.
How to Use the Inputs
- Enter your expected annual Social Security benefit.
- Enter traditional 401(k)/IRA withdrawal amounts.
- Add pension income and any other taxable income.
- Select your filing status and age (for standard deduction).
- Review the tax breakdown including effective and marginal rates.
- Check IRMAA thresholds for Medicare premium surcharges.
Formula used
Provisional Income = 50% of SS + Traditional Withdrawals + Pension + Other Income
SS Taxable: 0% if PI < $25K single / $32K joint; up to 50% if PI < $34K/$44K; up to 85% above
Taxable Income = SS Taxable + Withdrawals + Pension + Other − Standard Deduction
Federal Tax = Sum of bracket amounts (10%, 12%, 22%, 24%, 32%, 35%, 37%)Example Calculation
Result: Federal tax: ~$5,062 | Effective rate: 7.7%
With $24,000 SS, $30,000 IRA withdrawal, and $12,000 pension: provisional income is $54,000 (50% of SS + rest). About 85% of SS ($20,400) is taxable. Taxable income after the 2026 age-65 standard deduction ($18,150 for a single filer) is approximately $44,250, resulting in about $5,062 federal tax at a 7.7% effective rate.
Tips & Best Practices
- Consider Roth conversions in low-income years to reduce future RMDs and SS taxation.
- Withdrawing from Roth accounts does not increase provisional income or SS taxation.
- The standard deduction is higher at age 65+: extra $2,050 for single, $1,650 per spouse for joint.
- Capital gains have their own bracket system — long-term gains may be taxed at 0% in retirement.
- IRMAA surcharges add about $81-$487/month per person to Medicare Part B premiums at higher incomes in 2026.
- Bunching deductions or using QCDs (Qualified Charitable Distributions) can lower taxable income below key thresholds.
The Social Security Tax Trap
The provisional income thresholds for Social Security taxation ($25,000/$32,000) were set in 1983 and have never been inflation-adjusted. As a result, most retirees with any significant income beyond SS find 85% of their benefits taxable. This effectively makes the thresholds meaningless for middle-income retirees.
Withdrawal Sequencing Strategy
The optimal withdrawal order typically starts with taxable accounts (where only gains are taxed), then traditional accounts (fully taxable), then Roth (tax-free). However, the best strategy depends on your specific tax brackets and Social Security taxation level. Many retirees benefit from filling lower brackets with traditional withdrawals early in retirement.
IRMAA Planning
IRMAA is a cliff-based system: exceeding a threshold by even $1 triggers the higher premium for the entire year. Plan your income carefully, especially in years with Roth conversions, capital gains, or one-time income events. IRMAA uses income from two years prior, so actions taken today affect premiums in two years.
2026 Caveat
This calculator reflects the 2026 standard deduction, bracket, and IRMAA amounts under existing law. It does not model the separate enhanced senior deduction enacted for 2026, so treat the result as a planning estimate rather than a full tax-return calculation.
Sources & Methodology
Last updated:
Methodology
This worksheet estimates retirement federal tax in four steps. It first computes provisional income as one-half of Social Security plus other entered income, then applies the standard 0%, up-to-50%, and up-to-85% Social Security taxation bands. It adds taxable Social Security to traditional-account withdrawals, pension income, and other taxable income, subtracts the selected 2026 standard deduction plus the age-65 add-on where applicable, and then runs the result through the 2026 ordinary-income tax brackets shown in the page code.
The IRMAA output is intentionally simplified. It uses gross taxable income as a proxy for MAGI and applies the 2026 Medicare bracket tiers directly, so it should be used as a planning alert rather than as a CMS-premium notice. The page also explicitly does not model the separate 2026 enhanced senior deduction, state taxes, NIIT, AMT, or every retirement-income edge case.
Sources
- IRS releases tax inflation adjustments for tax year 2026, including amendments from the One, Big, Beautiful Bill (Internal Revenue Service) — Official 2026 ordinary-income bracket and standard-deduction amounts used in the worksheet.
- About Publication 915, Social Security and Equivalent Railroad Retirement Benefits (Internal Revenue Service) — IRS publication covering provisional income and the taxation of Social Security benefits.
- Medicare Income-Related Monthly Adjustment Amounts (Centers for Medicare & Medicaid Services) — CMS reference for the IRMAA bracket structure and premium surcharges used for the planning alert.
Frequently Asked Questions
Social Security taxation depends on your provisional income (50% of SS + all other income). If provisional income is below $25,000 (single) or $32,000 (joint), SS is not taxed. Up to 50% is taxable if below $34,000/$44,000. Up to 85% is taxable above those thresholds. These thresholds have never been adjusted for inflation.
For 2026, the base standard deduction is $16,100 for single and $32,200 for married filing jointly. An additional $2,050 is available for each single filer 65+ and $1,650 per spouse 65+ for joint filers. So a single 65+ filer gets $18,150 and a joint couple both 65+ gets $35,500.
IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge on Medicare Part B and Part D premiums for higher-income beneficiaries. It is based on your modified adjusted gross income from two years prior. In 2026, IRMAA starts at $109,000 for single and $218,000 for joint filers, adding about $81.20 to $487.00 per month to Part B premiums.
Qualified Roth IRA and Roth 401(k) distributions are completely tax-free and do not count as provisional income for Social Security taxation purposes. They also don't count toward IRMAA thresholds. This makes Roth accounts extremely valuable for tax-efficient retirement income.
This calculator focuses on federal tax. State taxes vary widely: 9 states have no income tax, 38 states exempt some or all Social Security, and some states offer pension exclusions. State tax can add 0-13% depending on your state of residence.
The tax torpedo refers to the income range where each additional dollar causes Social Security benefits to become taxable. In this range, the effective marginal tax rate can reach 40-50% because $1 of additional income can cause up to $0.85 of Social Security to become newly taxable, layered on top of regular tax.
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