Retirement Tax Tips and Answers | TurboTax® Support

Retirement tax questions

Video Guide on Entering Qualified Charitable Distributions (QCDs) for the 2025 Tax Year

If you are aged 70 1/2 or older, a Qualified Charitable Distribution (QCD) offers a powerful way to reduce your taxable income while supporting your favorite charities. A QCD is a transfer of funds made directly from your IRA (excluding active SEP or... read more

Retirement Video Guide 2025: Entering Your Required Minimum Distribution (RMD)

The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year. If you turned 73 in 2024 or earlier, understanding these rules and accurately reporting the income on your 2025 tax return... read more

Traditional IRA vs. ROTH IRA: Which is better?

Which is better depends on your financial goals, income, and tax situation. While nobody can predict future tax laws, we have a fairly good understanding that more income usually means higher tax rates. For tax planning you should consider your curre... read more

Retirement Plans: Taxing Distributions!

Is it time to retire? You’ve worked your whole life - setting aside some of your hard-earned dollars to ensure a comfortable retirement. Now it’s time to reap the benefits of your savings! Know your options and gather the knowledge to reduce taxes, e... read more

Retirement Plans: Tax Savings Galore!

The best place to begin your retirement tax savings is with expert knowledge! You’ll find that in the The Golden Years Guide to Tax-Free Retirement, which is filled with great tips from financial experts in-the-know. Most people are familiar with a 4... read more

TurboTax made a $30,000 error on our taxes. We checked both our numbers and the IRS. Both were correct, TurboTax miscalculated social security taxable amount by that much

The social security work sheet was not used correctly by TurboTax

If you do a Roth Conversion from a Traditional IRA do you have to file a Form 8606?

I am 64 years old, will make same income this year as next. Does it make any difference if I take $5000 out of my 401k this year or next as far as taxes?

does anyone know how to estimate taxes for 2025 in before y/e to calculate a ira to roth conversion I am 64 and cannot seem to get TT to give me a estimate

Need guidance on how to answer TurboTax’s questions on “Rollover of 401(k) to ROTH 401(k)”.

I need guidance on how to answer TurboTax’s question on “Rollover of 401(k) to ROTH 401(k)”. The question is:“Is this 1099-R reporting a rollover of funds from a 401(k), 403(b) or governmental 457(b) to a designated ROTH 401(k) or ROTH 403(b) plan?”I... read more

Form 5329 has to be removed from my tax return. There is a big error in Part IX line 52b.

The total of required RMDs is more than 50% higher than it should be.

Roth IRA contribution TurboTax allowed me to make one without warning me now I am two years back in oat penalties. Why did this happen and how do I fix it?

Why did TurboTax not pick up that I was over the income limit for IRA contribution and allow me to contribute? Who’s responsible? How do I fix it?

Roth IRA contribution TurboTax allowed me to make one without warning me now I am two years back in oat penalties. Why did this happen and how do I fix it?

Why did TurboTax not pick up that I was over the income limit for IRA contribution and allow me to contribute? Who’s responsible? How do I fix it?

Excess 403b contributions from one employe

I found out that my previous employer didn’t limit the contribution to my 403b plan which resulted in excess contribution of $4000i left that employer in February 28 , 2025 and I am currently self employed I moved all the balance in my 403b account t... read more

Excess contribution to 403b plan

I found out that my previous employer didn’t limit the contribution to my 403b plan which resulted in excess contribution of $4000 in 2025, I was putting all my income for the first 2 months in 2025 in 403b plan but unfortunately the employer didn’t ... read more