1. Your benefit is not taxable if it is your only income. If you have other income, up to 85% of the benefit can be taxable. That is based on the current year income, not the previous year. So whether or not you pay tax on your 2026 benefit will depend on your total 2026 income.
2. If you are less than your "full retirement age", but you keep working after taking your benefit, your benefit may be reduced. This is a past/future calculation. For example, if you have income earned from working in 2026, and you are less than full retirement age, your 2027 benefit may be reduced. If you take your benefit in the middle of the year when you already worked part of the year, there is a special calculation for the first year of your benefits. And if you are past your full retirement age, your benefit is not reduced even if you keep working.
