For the Web.Federal Income Tax Calculator During Retirement
 Share
The version of the browser you are using is no longer supported. Please upgrade to a supported browser.Dismiss

View only
 
ABCDEFGHIJKLMNO
1
2
2018Filing Status:Change the Green colored areas to match your situation.
3
$30,000Annual SS BenefitMarried Filed Jointly
4
$25,000Other IncomeSingle
5
10%0
6
$40,000
Provisional Income: Half of SS income + Other Income
12%9526
7
$32,000
1st Threshold: Joint return is $32k, Single $25k
22%38701
8
$44,000
2nd Threshold: Joint return is $44k, Single $35k
24%82501
9
Taxable Benefit
10
1st Threshold Contribution:
11
$8,000
Amount of Provisional income above 1st threshold
Joint
12
"+"$4,000
50% of the $8,000 above 1st threshold is added to taxable income.
10%0
13
12%19051
14
2nd Threshold Contribution:
22%77401
15
Amount of provisional income above 2nd threshold
24%165001
16
"+"0
35% of the $0 above 2nd threshold is added to taxable income
17
18
$4,000
Added to taxable income (Line 20b, Form 1040)
19
Total taxable income sums to $25,000 + $4,000 + $0 = $29,000
20
Starting from $29,000 ...
21
-$24,000
Less: Joint Return Standard Deduction of 24k, Single $12k
22
=$5,000
Apply this amount to brackets - 3 Max
23
b1$500
2018 10% bracket liability
24
b2
2018 12% bracket liability
25
b3
2018 22% bracket liability
26
Tax:$500
0.91% Effective Federal Tax Rate
27
28
29
Loading...