"Can I use Turbo Tax to estimate next years taxes?"
Yes, but it will not be exact - it will be an estimate, however, and give you a rough idea. You can also use TaxCaster (see link below).
If it's a Traditional IRA, keep in mind that you will owe Federal and state taxes, plus perhaps a 10% early withdrawal penalty. If you are collecting Social Security, it can also make more of that taxable, plus lower or eliminate some deductions/credits.
You are wise to test this out in advance.