Retirement Income Tax Tools
Estimate what you'll owe in taxes on your retirement income — Social Security, pensions, IRA withdrawals — and how much you actually keep each month.
How retirement income is taxed
Social Security taxation
Up to 85% of your Social Security benefit can be taxable, depending on your "combined income" (MAGI plus half your Social Security). At lower incomes, none of your SS is taxable. As income rises, first 50%, then 85% becomes taxable.
Many retirees are surprised to learn this — especially when a Roth conversion, large RMD, or capital gain pushes their combined income into the 85% zone.
The senior standard deduction bonus
Taxpayers age 65 and older receive an additional standard deduction: $2,000 extra for single filers, and $1,600 per qualifying spouse for married-filing-jointly in 2026. This effectively reduces your taxable income beyond what younger taxpayers can claim.
State taxes on retirement income
Seven states have no income tax at all: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. A few more — like Tennessee and New Hampshire — only tax investment income. Many other states offer significant exemptions for pension and Social Security income.
Medicare IRMAA on top of taxes
Higher retirement income doesn't just mean more federal and state tax — it can also trigger Medicare IRMAA surcharges. Our income tax estimator includes IRMAA in the net monthly income calculation so you see the full picture.