How do you know what rate to select on Line 6 of IRS Form W-4V?

[geoji]

This form is used to request withholding taxes on Social Security Benefits

[GeorgeDenseff]

It is asking you what you want to have withheld.  You can select 7%, 10%, 15%, or 25%. 

The IRS estimator can help you to determine what to have withheld.

Tax Withholding Estimator | Internal Revenue Service (irs.gov)

[DianeW777]

There is not enough information for us to make a determination for you, however, if you usually get a refund when you file your return, then you can put the lowest amount of withholding (7%).  If you usually owe money or you are just not sure because you haven't received social security benefits in the past, then a safer bet would be 10%.  

If you are asking how much income on your tax return will require you to add some of your social security benefits as part of your taxable income it is explained next.

• If you add all of your taxable income (and tax exempt interest if applicable) plus half of your social security from Form SSA-1099, and that amount is greater than $32,000 for married filing jointly ($25,000 for single) then some of your benefits will be taxable.  To review the worksheet or if you file married filing separately you can use the following link.
  • IRS Publication 915

[geoji]

My taxable social security benefit is $21,338 which is 85% of my total SS benefit.  I need the right rate to withhold on that. 

[JamesG1]

Your Federal tax withholding depends on several factors.

You will find the TurboTax W-4 calculator to be helpful.

I am unsure whether $21,388 is the amount of your taxable Social Security benefits or whether your taxable Social Security benefits will be up to 85% of $21,388.  The taxable Social Security amount will be added to your other taxable income such as wages, pension benefits, interest income and dividends. 

Other examples of things we do not know are:

• Types and amounts of additional income,
• Tax rate (or rates) your taxable income will be subject to,
• Allowable tax deductions, or
• Tax credits you may qualify for.

Use the TurboTax W-4 calculator to help you make the determination.

W-4V