turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
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.

just retired

This is my first full year of retirement.  I have several sources of income - social security and two pensions.  How do I determine if I need to adjust my W-4s so that I don't owe this year?  And how do I determine which income bracket I am now in?  

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
marctu
Employee Tax Expert

just retired

Thank you for the question.   You would actually want to use the W-4P form, which can be found here: W-4P 

 

You will no longer use the W-4 as you are now retired.  If you want to request taxes to be withheld from your social security you would use the Form W-4V, which can be found here:  Form W-4V 

 

The marginal tax brackets for 2024 are as follows:

 

2024 Rates

Rates Threshold for Single Threshold for MJF
10% $0 to $11,600 $0 to $23,200
12% $11,601 to $47,150 $23,201 to $94,300
22% $47,151 to $100,525 $94,301 to $201,050
24% $100,526 to $191,950 $201,051 to $383,900
32% $191,951 to $243,725 $383,901 to $487,450
35% $243,726 to $609,350 $487,451 to $731,200
37% $609,351 and over $731,201 and over

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies