Retirement tax questions

@DEAF4REAL 

When you say you will be receiving "SSI" do you actually mean Social Security benefits?  Because "SSI" and Social Security benefits are not the same thing.  I suspect you really mean you will be receiving Social Security benefits since you have had a career with the U.S. Postal Service.   But correct us if that is a mistake--if you receive actual SSI  (Supplemental Security Income) , it is not reported on a tax return and is not taxable.

If you do not know how much you will be receiving from Social Security when you retire, there is a tool you can use to estimate your benefits.  You cannot get an exact amount until you actually begin the process of applying for your Social Security, but you can at least get an idea using this tool, and as you will notice, there are links to more information regarding SS benefits on this web page that you might find helpful.

https://www.ssa.gov/planners/calculators/

Your original question did not mention an annuity or TSP, so we cannot tell you what will happen with those -- we have no information to go on.  We can only tell you that from a tax standpoint, you receive documents called 1099R's every January for retirement income and you enter your 1099R's into your tax return.

Hopefully your employer can provide some more of the information you need to plan for your retirement.  You have not told us how old you will be when you retire--we do not now how to advise you about some of the issues you are concerned about.  If you are 65 or older, you should be eligible for Medicare when you retire--if you are younger than 65, that is a different issue and you have to figure out what to do regarding medical coverage until you are 65.  Even when you have Medicare, you may still need supplemental coverage and a prescription plan--and those are not things we can advise you about in this income tax forum.

If you have other tax questions we can help with please post back.