Hi Schulzes,
That would be hard to determine without knowing other factors:
1) What type of deductions, if you will be Itemizing?
2) Whether you are Single or Married?
3) How much income are you currently receiving in pensions and whether all of it is taxable or partially taxable?
4) Your Social Security Benefits most likely will be subject to Federal tax on 85% of those benefits
Bottom line, once your financial institution determines what your RMD's will be, post 72 years old, it may be reasonably fair to assume you will have to pay Federal income tax on the first dollar of excess income above all Deductions, with an additional deduction for being over 65 (if claimining the Standard Deduction) in the following progressive tax tiers, if SINGLE:
10% - $0 taxable income to $10275
12% - $10275 to $41775
22% - $41775 to $89075
24% - $89075 to $170050
32% - $170050 to $215950
35% - $215950 to $539900
37% - $539900 or more
Taxable Income would only be subject tax within those brackets....
