turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
Serena Tricarico
Returning Member

Social Security

Good morning. I’d like to know how I’d be taxed when I take my pension and Social Security

posted
‎January 26, 2022 9:02 AM
last updated ‎January 26, 2022 9:02 AM
0
1
125
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT1
Expert Alumni
Expert Alumni

Social Security

Most pensions are funded with pretax income and consequently the full amount of your pension would be taxable when you receive the funds.  

 

Assuming that you made no after-tax contributions to your plan, pensions from government and private organizations are taxable at your ordinary income rate. 

 

Social security is taxable for a portion depending on your total income.

 

Please read this TurboTax blog for more information.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 26, 2022 9:07 AM
0
120
Reply
Bookmark Icon

Still have questions?

Make a post
Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics
Live Full Service: Taxes Done for you! Get matched with a local tax expert who can do your taxes, start-to-finish, the same day. Start for free!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

coms1249
RoRasc
BB133
Lxivs
jamiegreensleeves

Did the information on this page answer your question?

thumb-up Yes
thumb-down No
close icon
checkmark

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

and start working
on your taxes

File your taxes, your way

Get expert help
or do it yourself.

Get started
close icon
icon help

Access additional help, including our tax experts

Post your question

to receive guidance
from our tax experts and community.

Connect with an expert

Real experts - to help
or even do your taxes for you.

Get started
Manage cookies