Hi @SueGhel thank you for joining us today for our TurboTax Live Event.
The 2023 distribution from your retirement account is not considered earnings for Social Security (SS) purposes. This means that pension payments, annuities, and the interest or dividends from your savings and investments are not taxed as SS earnings. You may need to pay regular income tax, but you do not pay Social Security taxes. Below are useful tools to estimate your 2023 Individual income tax and determine your tax brackets for 2023:
TurboTax's TaxCaster tax calculator:
https://turbotax.intuit.com/tax-tools/
2022 and 2023 Tax Brackets:
https://turbotax.intuit.com/tax-tips/irs-tax-return/current-federal-tax-rate-schedules/L7Bjs1EAD
Please reach out if you have additional questions.
Thanks for using TTLive!
Bonnie, TTLive Tax Expert
