Retirement Income Tax Estimator 2026
See how much of your retirement income is taxable — and what you actually keep each month after federal tax, state tax, and Medicare IRMAA.
Enter your expected annual retirement income sources. We'll estimate your federal tax, state tax, and Medicare IRMAA — then show you what you actually keep each month. Includes the senior standard deduction for age 65+.
Retirement Income Tax — Frequently Asked Questions
- It depends on your total income. If your "combined income" (Adjusted Gross Income + non-taxable interest + half of Social Security) is below $25,000 (single) or $32,000 (married jointly), none of your Social Security is federally taxable. Between $25,000–$34,000 single ($32,000–$44,000 joint), up to 50% is taxable. Above those thresholds, up to 85% is taxable.
- In 2026, taxpayers age 65 and older receive an additional standard deduction on top of the base amount: $2,000 extra for single filers, and $1,600 per qualifying spouse for married-filing-jointly filers. This effectively reduces your taxable income compared to younger taxpayers at the same income level.
- Generally yes — pension income from a traditional employer pension plan (defined benefit plan) is fully taxable as ordinary income. If you made after-tax contributions to your pension, a portion may be tax-free. Pension income is also counted in your MAGI for IRMAA purposes.
- Traditional IRA and 401(k) withdrawals are fully taxable as ordinary income in the year you take them. Roth IRA withdrawals (from accounts held at least 5 years, after age 59½) are generally tax-free. RMDs from traditional accounts count as ordinary income and are included in your MAGI.
- Seven states have no state income tax at all: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. New Hampshire taxes only investment income (not wages or retirement income). Tennessee has no income tax. Illinois, Mississippi, and Pennsylvania exempt most retirement income including pensions and Social Security. Other states vary widely — many offer partial exemptions for pension and Social Security income.
- Yes. Higher retirement income can trigger Medicare IRMAA surcharges. Medicare uses a 2-year lookback — your 2024 income determines your 2026 premiums. In 2026, single filers with MAGI above $109,000 (joint above $218,000) pay IRMAA surcharges on top of the standard $202.90/month Part B premium. Our estimator includes IRMAA in your total monthly costs.