Solved: Pension W-4
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TJ5211
Level 1

Pension W-4

I'm applying for my retirement and trying to figure out the W-4 form they sent me. I'm also in the process of Social Security Disability Benefits and my wife is still working. Not sure what we should do on our W-4's.

1 Best answer

Accepted Solutions
ErnieS0
Employee Tax Expert

Pension W-4

Use our W-4 Withholding Calculator or the IRS Tax Withholding Estimator to help fill out your W-4s.

 

Generally, it’s a good idea to have some amount of tax withheld from a pension (and possibly Social Security) to avoid a big tax bill plus interest and penalties for underpaying tax.

 

Pensions are taxable and Social Security benefits are partly taxable if one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than $32,000 if married filing joint.

View solution in original post

2 Replies
ErnieS0
Employee Tax Expert

Pension W-4

Use our W-4 Withholding Calculator or the IRS Tax Withholding Estimator to help fill out your W-4s.

 

Generally, it’s a good idea to have some amount of tax withheld from a pension (and possibly Social Security) to avoid a big tax bill plus interest and penalties for underpaying tax.

 

Pensions are taxable and Social Security benefits are partly taxable if one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than $32,000 if married filing joint.

View solution in original post

TJ5211
Level 1

Pension W-4

Thanks, It seemed like the one from the IRS site worked best for my situation.

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