@Vanessa A
@basshunter58
I'm not sure those calculations are quite correct.
If you are single and if your withdrawal is $14,600 and you receive $15,000 in social security for the year, then your "combined income" for determining tax on social security is $22,100. Since that is less than $25,000, none of your social security would be taxable, and since none of your social security would be taxable, your AGI of $14,600 would be covered by the standard deduction.
However, if you are closer to the social security maximum, let's say $3000 per month benefit ($36,000 per year), then your "combined income" would be $14,600 plus $18,000 = $32,600. That will make 50% of your social security taxable, and your AGI would be $14,600 plus $18,000 = $32,600. $14,600 is covered by the standard deduction and the remaining $18,000 would be taxed at 10-12%.
