Does TurboTax provide Tax Planning Guidance for starting Social Security withdraws?

Yes, TurboTax does provide some information about social security in relationship to your income tax.

• Is my Social Security income taxable?

There are two key components for social security.  

1. It  could become taxable up to a maximum of 85% depending on your other taxable income.
   • if half of your social security, combined with your other taxable income is below $25,000 for single ($32,000 for married, or $0 for married filing separate), then none of your social security would count as taxable income.  
   • IRS FAQ for Social Security Income
2. There is also a possible repayment of part of your Social Security to the Social Security Administration (SSA) if you are below full retirement age.  This can be explained in the link below and could be a tax issue if you repaid benefits in a year after you actually received the benefits. 
   • Repay overpaid Social Security

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