You are correct that you will report all the SS benefits on the personal return that you file jointly each year. You will receive 1099-SSA from SS admin each year that will have gross and net benefits paid along with Medicare premiums and any tax withholding. Generally SS admin do not withhold taxes so you will have to let them know to withhold taxes. You can do that here.
https://www.ssa.gov/manage-benefits/request-withhold-taxes
Alternatively you can also pay directly to the IRS on their website or send them a check each quarter. Estimated payments are due listed here.
https://www.irs.gov/faqs/estimated-tax/individuals/individuals-2
You do not need to make multiple payments, you can use the IRS estimated worksheet or TurboTax tax calculator to estimate balance due and pay the full amount if you are ok or you can break them and make smaller payments.
Here is a link to IRS 1040-ES form with instructions.
https://www.irs.gov/pub/irs-pdf/f1040es.pdf
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
You may avoid the Underpayment of Estimated Tax by Individuals Penalty if:
- Your filed tax return shows you owe less than $1,000 or
- You paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less.
Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!
**Please cheer or say thanks by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Regards,
TurboTax Expert
