https://ttlc.intuit.com/community/retirement/discussion/deduction/01/2329971#M156414 <P>How&nbsp; do I determine how much tax should be deducted from $1000 pension?</P> Thu, 15 Jul 2021 18:31:12 GMT 7uu8k6g 2021-07-15T18:31:12Z https://ttlc.intuit.com/community/retirement/discussion/deduction/01/2329971#M156414 <P>How&nbsp; do I determine how much tax should be deducted from $1000 pension?</P> Thu, 15 Jul 2021 18:31:12 GMT https://ttlc.intuit.com/community/retirement/discussion/deduction/01/2329971#M156414 7uu8k6g 2021-07-15T18:31:12Z https://ttlc.intuit.com/community/retirement/discussion/re-deduction/01/2330000#M156415 <P>You can use an online tool such as TaxCaster, (<A href="https://turbotax.intuit.com/tax-tools/calculators/taxcaster/" target="_blank">https://turbotax.intuit.com/tax-tools/calculators/taxcaster/</A>) to estimate your total tax liability for the year.</P> <P>&nbsp;</P> <P>If the pension of $1000 is your only income, then you can divide the total liability for the year over the number of paychecks to calculate the amount to be deducted from each paycheck.</P> <P>&nbsp;</P> <P>If the $1000 is not your only income, you can use the result from TaxCaster&nbsp;(or other online tool), to calculate your tax rate,&nbsp;&nbsp;(tax liability /total income). You can then use the tax rate to calculate the amount to be deducted from your pension amount.</P> Thu, 15 Jul 2021 18:47:43 GMT https://ttlc.intuit.com/community/retirement/discussion/re-deduction/01/2330000#M156415 drc845443 2021-07-15T18:47:43Z