Should do I pay estimated taxes for social security income?

[granegran]

I will continue to work, am self employed and file a K1.

[Coleen3]

You can but it might be easier just to ask the SSA to withhold a percentage. After next year, when you do your taxes, you can see the impact of the withholding and if it is not needed, discontinue it. see below for how Social Security is taxed.

A quick way to find out if any of your benefits may be taxable is to add one-half of your Social Security benefits to all your other income, including any tax-exempt interest. Next, compare this total to the base amounts below. If your total is more than the base amount for your filing status, then some of your benefits may be taxable. The three base amounts are:

• $25,000 - for single, head of household, qualifying widow or widower with a dependent child or married individuals filing separately who did not live with their spouse at any time during the year
• $32,000 - for married couples filing jointly
• $0 - for married persons filing separately who lived together at any time during the year