Where do I put social security income?

[frp user]

I used the "annual retirement income" input beginning at age 62 for my social security. Is this correct?

[admin]

Hello,

Using the annual retirement income field to enter your social security is reasonable to do.

Just be aware that the "Annual Retirement Income" amount is assumed to be fully taxable, and your social security payments may or may not be taxable depending on your circumstances.

If you know how much of your social security will be taxed, you can enter it in cashflow table in the "additional inputs" tab. There you can specify the timing of the payments and the percentage of the payment that is subject to income taxes.

Regards,

Jim