Retirement Tax Calculator
Federal Tax on Your Retirement Income
Estimate the federal income tax on your Social Security, pension, IRA and 401(k) withdrawals for 2026 or 2027, with the deductions for people 65 and older.
Read the full answer — method, rates and figures
Quick answer: Federal tax on retirement income depends on the mix. Pensions and withdrawals from traditional IRAs and 401(k)s are taxed in full as ordinary income, between 0% and 85% of Social Security is taxable depending on your other income, and qualified Roth withdrawals are not taxed.
In 2026 a single filer aged 65 with $24,000 of Social Security, a $12,000 pension and $20,000 of IRA withdrawals has $13,000 of taxable benefits and owes about $2,254 of federal income tax, 4.0% of the $56,000 total. A married couple, both 65, with $48,000 of Social Security and $54,000 of pension and IRA income owes about $4,472 (4.4%).
State income tax is separate and is not included.
How much tax will I pay on my retirement income?
In 2026, a single filer aged 65 with $24,000 of Social Security and $32,000 of pension and IRA income owes about $2,254 of federal income tax, or $188 a month. That is 4.0% of the total. Enter your own income below.
$24,000 a year.
Traditional accounts.
Qualified: not taxed.
Wages, taxable interest.
Federal tax, 2026
$2,254
Share of all your income
4.0%
Taxable Social Security
$13,000
Tax on your next $1,000 withdrawn
$222
Track your retirement income toward retirement
Richify keeps your Social Security, pension, IRAs and 401(k)s in one net worth view, so you can see if you are on track and what your income looks like after tax.
Federal tax, 2026
$2,254
Income after federal tax
$53,746
Taxable Social Security
$13,000
Tax on your next $1,000
$222
How it adds up
- • Total income $56,000: Social Security $24,000, pension $12,000, traditional withdrawals $20,000.
- • Provisional income $44,000 makes $13,000 of your Social Security taxable (54% of it).
- • Adjusted gross income $45,000 − standard deduction $18,150 − senior deduction $6,000 = taxable income $20,850.
- • Federal income tax for 2026: $2,254, about $188 a month, in the 12% bracket.
- • The next $1,000 from a traditional account adds $222 of tax (22.2%).
For the Social Security part on its own, including the thresholds and the tax on your next dollar, see the Social Security tax calculator. The 2026 and 2027 federal tax brackets list every rate band and the deductions for people 65 and older.
Withdrawals required from age 73 are ordinary income too: the RMD calculator gives the amount for your balance. To see how long a balance lasts at the withdrawal you enter here, use the retirement withdrawal calculator, and for a pension offered as a lump sum, the pension calculator.
Last reviewed 13 November 2026 by the Richify AI agent team.
Reviewed by Felix, Richify's AI CFO — an AI author, presented as one.
This is the textbook answer. Want to see this calculated against your actual accounts?
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Richify tracks your Social Security, pension, IRAs and 401(k)s in one net worth view, so you can see your retirement income and the tax on it together. Free to download with limited use; a 7-day free trial unlocks the full app.
Get Richify — 7-day free trialHow it works
The calculator works in the order of the tax return. First it adds up your ordinary income: pension, withdrawals from traditional IRAs and 401(k)s, and any wages or taxable interest. Second, it applies the Social Security test in IRC §86: your provisional income (that ordinary income plus half your benefits) is compared with two fixed thresholds, and between none and 85% of your benefits becomes taxable. Qualified Roth withdrawals are left out of both steps.
Third, it subtracts the standard deduction for the year, the additional standard deduction for each person 65 or older, and the $6,000 senior deduction for each person 65 or older, which shrinks by 6% of income above $75,000 ($150,000 on a joint return) and applies to tax years 2025 to 2028. What is left is taxed on the federal rate schedule for the year you picked.
The tax on your next $1,000 is the extra federal tax from taking $1,000 more from a traditional account. It can be higher than your bracket, because the extra income can also make more of your Social Security taxable and reduce the senior deduction.
Not included: state income tax, the lower rates on qualified dividends and long-term capital gains, after-tax basis in a pension or IRA, tax-exempt interest, tax credits, the 10% additional tax on withdrawals before 59½, and Medicare income-related premiums. The result is an estimate for general information, not a tax return.
Last updated November 2026. Sources: 26 U.S.C. §86 (taxable Social Security); IRS Rev. Proc. 2025-32 (2026 brackets, standard deduction and age 65 amounts); IRS Rev. Proc. 2026-35 (2027); 26 U.S.C. §151(d)(5)(C) (senior deduction).
Federal tax on retirement income in 2026, by income
Each row adds pension or traditional IRA and 401(k) income on top of a fixed Social Security benefit. For a single filer aged 65 or older with $24,000 of benefits, $30,000 of other income makes $11,300 of the benefits taxable and produces about $1,810 of federal tax; $60,000 produces about $7,158, which is 8.5% of the $84,000 total.
Single, 65 or older, $24,000 of Social Security
| Pension + IRA income | Taxable Social Security | Federal tax | Share of all income |
|---|---|---|---|
| $0 | $0 | $0 | 0.0% |
| $10,000 | $0 | $0 | 0.0% |
| $20,000 | $3,500 | $0 | 0.0% |
| $30,000 | $11,300 | $1,810 | 3.4% |
| $40,000 | $19,800 | $4,030 | 6.3% |
| $60,000 | $20,400 | $7,158 | 8.5% |
| $80,000 | $20,400 | $11,822 | 11.4% |
| $100,000 | $20,400 | $16,486 | 13.3% |
Married filing jointly, both 65 or older, $48,000 of Social Security
| Pension + IRA income | Taxable Social Security | Federal tax | Share of all income |
|---|---|---|---|
| $0 | $0 | $0 | 0.0% |
| $20,000 | $6,000 | $0 | 0.0% |
| $40,000 | $23,000 | $1,550 | 1.8% |
| $60,000 | $40,000 | $5,804 | 5.4% |
| $80,000 | $40,800 | $8,300 | 6.5% |
| $100,000 | $40,800 | $10,700 | 7.2% |
| $150,000 | $40,800 | $22,027 | 11.1% |
2026 federal income tax, standard deduction taken, all other income taxed as ordinary income. "Share of all income" is the tax divided by Social Security plus the other income. No state tax.
How much retirement income is tax-free?
The table shows the largest pension or traditional IRA and 401(k) income that produces no federal income tax. Without Social Security it equals the deductions: $24,150 for a single filer aged 65 or older in 2026 and $47,500 for a couple who are both 65 or older. With Social Security the figure is lower, because each extra dollar of other income can also make benefits taxable.
| Household | 2026 | 2027 |
|---|---|---|
| Single, 65 or older, no Social Security | $24,150 | $24,700 |
| Single, 65 or older, $24,000 of Social Security | $20,433 | $20,800 |
| Married filing jointly, both 65 or older, no Social Security | $47,500 | $48,600 |
| Married filing jointly, both 65 or older, $48,000 of Social Security | $31,621 | $32,216 |
| Single, under 65, no Social Security | $16,100 | $16,600 |
Other income taxed in full as ordinary income, standard deduction taken, no credits. Qualified Roth withdrawals do not count toward these figures.
Tax on a traditional IRA withdrawal compared with a Roth withdrawal
A withdrawal from a traditional account is ordinary income and also counts toward the Social Security test; a qualified Roth withdrawal does neither. For a single filer aged 65 or older with $24,000 of Social Security in 2026, taking $40,000 from a traditional IRA makes $19,800 of the benefits taxable and produces about $4,030 of federal tax. The same $40,000 from a Roth leaves $0 of the benefits taxable and the tax at $0. The tax on a Roth account was paid when the money went in or was converted; the Roth conversion calculator shows that cost.
How to use this calculator
- Pick the tax year, your filing status and how many people on the return are 65 or older.
- Enter your monthly Social Security benefits (both spouses together on a joint return).
- Enter your pension, your withdrawals from traditional IRAs and 401(k)s, any Roth withdrawals, and other income such as wages or taxable interest.
- Read the federal tax, your effective rate, how much of your Social Security is taxable and the tax on the next $1,000 you withdraw.
❓ Frequently Asked Questions
How much federal tax will I pay on my retirement income?
It depends on how much of the income is taxable and on your deductions. In 2026, a single filer aged 65 or older with $24,000 of Social Security pays no federal income tax with up to $20,433 of pension or traditional IRA income on top, about $4,030 with $40,000 and about $7,158 with $60,000.
A couple filing jointly, both 65 or older, with $48,000 of Social Security pays about $5,804 with $60,000 of other income and $10,700 with $100,000. The calculator runs your own figures.
Is retirement income taxed differently from wages?
The federal rate schedule is the same, but three things differ. Retirement income carries no Social Security or Medicare payroll tax.
Only part of a Social Security benefit is taxable, from none to 85%. And people 65 or older get a larger standard deduction plus the $6,000 senior deduction for tax years 2025 to 2028, which a single filer keeps in full up to $75,000 of income ($150,000 on a joint return).
Are pensions and 401(k) withdrawals taxable?
Yes, in most cases in full. A pension funded with pre-tax money and withdrawals from a traditional 401(k), 403(b) or IRA are ordinary income in the year they are paid.
If you made after-tax contributions, the part that returns that basis is not taxed again; this calculator treats every dollar as taxable, so it overstates the tax for an account with after-tax basis. Qualified withdrawals from a Roth account are not taxed.
How much retirement income can I have before I pay federal tax?
With no Social Security, the answer is your deductions: $24,150 for a single filer aged 65 or older in 2026 (standard deduction $16,100, age 65 addition $2,050, senior deduction $6,000) and $47,500 for a married couple who are both 65 or older. With Social Security the figure for other income is lower, because that income also makes benefits taxable: $20,433 on top of $24,000 of benefits for a single filer and $31,621 on top of $48,000 for a couple.
Does this calculator include state tax?
No. It covers federal income tax only. States differ widely: several have no income tax, many exempt Social Security, and some exempt part or all of pension income.
Check the revenue department of the state you live in for its treatment of each kind of retirement income.
What changes for 2027?
The brackets and the standard deduction rise with inflation under Rev. Proc. 2026-35, while the Social Security thresholds ($25,000 and $34,000; $32,000 and $44,000 joint) and the $6,000 senior deduction stay the same.
On the same income as the example above, the federal tax is about $2,180 in 2027 against $2,254 in 2026. Use the tax year switch in the calculator to compare.
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Further Reading
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