Why do i have to pay over 8+, when I paid off my mortgage from my 401k and took 13,000.00 extra to pay for the taxes.

[glorodruiz]

I’m retired and live on ss
It seems too much to pay on taxes

[Heavus]

What do you mean by 8+? Over $8,000 dollars? 

Mark

[VolvoGirl]

Apparently the withholding wasn't enough to cover the tax on your total income.  And the 401K withdrawal made more of your Social Security taxable.

Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0

[glorodruiz]

Yes

[Heavus]

Wish we had more information on this but, Volvogirl had a very good answer for you. 

Not sure why the reason for paying off a (probably a low interest loan based on todays rates) mortgage other than the sense of pride and relief of having that paid when entering retirement.  Very good intentions with unfortunate consequences.  Wishing you well in retirement. Seek out your local chapter of Financial Planners who many provide assistance for those on fixed income. Many counties have a money help line or a once a month call in service of some sort. 

Heavus