Retirement Tax Tips and Answers | TurboTax® Support

I took out my TRS benefits i had to pay taxes. Do I need to report to IRS how much i received after taxes?

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I payed taxes on money I received from my ex husbands IRA account through my divorce. Will I also have to pay a penalty even if was due to a divorce?

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I received a payout following my mother's death in 2015. I have a 1099R for which shows federal income tax was withheld. Where do I enter it?

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Starting an IRA now. I saw something pop us saying that if I open up an IRA now it could deduct 5500 from my taxable income..?? Please explain.

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Why am I losing over $500 when I put in my Roth 401k withdrawl information? It tells me my tax bill for that is only $157. That amount would be 10% of the original amount of the 401k.

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Form 1099's required from Social Security

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I did my Fed and State taxes today online. It says my state (WV) was incomplete but I am not sure why. my wife only had her SSA as income The only income I had was from my Army retirement and both m...

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How to know if i should file jointly or separately when my new husband owes taxes & took out retirement money

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I filed 2015 taxes with Turbo, but the money owed wasn't withdrawn from my account. Should I have directly payed the IRS, or is the withdrawal supposed to be automatic?

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When will I receive 1099R form.

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Are Roth IRA contributions taxed directly when filing taxes?OR (as I thought) your paycheck is taxed there for there shouldn't be any further tax to contribute to a ROTH?

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2 Replies 802 Views

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Do i need to enter Roth IRA contributions even though i entered it into the W-2 section?

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My 80 year old father in law came to live with us in 2015. he gets a monthly social security check but we pay for everything else. can I file him as a dependent?

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Do you have to enter retirement distributions that you already paid taxes on last year under credit for retirement saving

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Where do I claim payment of taxes on 401k distrabutions

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1 Reply 614 Views

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W-2 and 1099 cannot efile

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My 1099r from OPM has no info on what this is asking for. a plan cost at start of annuity. have never had this come up before

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I withheld taxes on my retirement widthdrawl. Why do I still owe instead of recieving a return?

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If I took a "loan" from my 401K account, is that considered income and how do I report it?

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Does it matter who I open a IRA with to get a IRA tax credit?

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I have a ssa-1099 form for my 10 year old son, does this need to be entered somewhere

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I was out of work due to surgery and was on unpaid leave. I had to draw from my 401k to pay all expenses. Would this exempt me from additional tax penalties?

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I received a distribution from former company's ESOP program that I then rolled over to my Credit union's IRA. Where do I put that so I can get credit for opening an IRA? thx

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I gave ex wife money to buy her out of my military retirement, how do I deduct cost?

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11 Replies 1946 Views

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Does a 2015 distribution of IRA funds for a first-time home purchase reduce my eligible contributions for the "Retirement Savings Contributions Credit" in 2016?

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401(k) to IRA question

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The amount contributed for 2016 was $3466.74. Do I have to complete the excess form? The tax on the amount is less than the excess form fee. Does this risk an audit?

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How do I go back to the section of my return where i may sign up for an IRA to get extra money on my return this year?

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Why I am not getting Retirement Savings Contributions Credit?

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What does the question "Was Roth IRA open on December 31, 2016?" mean?

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IM RETIRED DO I FILE TAXES THIS YEAR IN CALIFORNIA

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Do I have to claim my spouses SSA-1099

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How to add taxes withheld from ira distribution

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Inherited money from dad from sale of house. Is there a inheritance form?

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Do you have to claim the boxes in 12 on your W-2 on your tax return? I have money take out for HSA but now I have to wait to file my return till I get a 1099 for this.

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The software asks for Pension Plan Withdrawals on 1099-R but the form itself refers to Distributions. How do I deal with this - I don't think they're the same thing.

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Do I have to file a return if I am retired and only get Social Security?

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Are veteran benefits taxable? This is the aid for living assistance my dad received.

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Waiting on my 1099

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IRA contributions

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My daughter receives survivor benefits. The check goes to me since my daughter is 12. Do I need to put that on my tax return or do I file a seperate tax return for her?

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I payed individuals cash to help me with my part-time work. How do I deal with that. It should reduce my income by $4800.00

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We have lost our Social Security Cards in 2015. We filed our taxes through turbo tax online last year. Will our Social Security numbers be protected this year?

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Ira distribution

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If I entered my contributions from my paycheck to my work retirement plan, do I have to add it to the Roth IRA section under deductions and credits?

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I received a lump sum for annual leave when I retired from an alternate pay plan. Where do I report that?

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1099's from Social Security have not arrived, no changes from last year. Are they really necessary?

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Can't you use last years Social Security Info since nothing chamged?

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Where do I input IRA contributions in the Deluxe version?

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I have the federal govt take out and additional $2600 every year from my paycheck. If I put that amount in an IRA instead, would it wind up being the same come tax time?

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Where do I enter our required minimum IRA distribution taken in 2016??

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I inherited an IRA from a parent that pasted. How do I go about using the 5329 form in regards to withdrawing the funds with no penalty? Reason #4??

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I have a form W-2 not a 1099

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I am a retired, former US resident, living in Spain and receiving a US pension. What forms should I fill to file my tax return?

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Have a question about my SSA 1099

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My honey was divoced in 2015. He has a tax debt from 2014 when he and his wife filed married, separetly. Is she responsible for 1/2 this debt?

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I have a dependent that's 15 that received 11,000 social security from fathers death. how do I claim that

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My son is 27 and lives with me. He only works part time, but makes more than 4k, he has medical issues to where I am paying more than half of what he makes.

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Retired income results

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Is go fund me contribution tax deduitible

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I don't have my 1099's yet and want to quit now. What do I do to stop now and return later to complete the form

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I never recieved a prompt to enter my state taxes witheld. It says I owe $2,519, but i paid $3,117.55 I should get a $600 return

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Am I supposed to enter all of my information first and then my husband's later? I entered my income. Now it's asking about Soc. Sec. He gets it, not me.

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1 Reply 621 Views

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I was told im due a refund for my social security tax that was withheld

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New payer for my retirement plan in 2016. should I edit the one that I had on my 2015 return or enter as new payer?

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I have excess contributions to my IRA, can I rollover the withdrawal to a 529 account without any tax liability?

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Began 2016 in MS. Retired 4-01-2016. Relocated to NC 6-15-2016 without gainful employment. Income was SS & IRA's. Please advise my tax exposure for NC.

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SSA benefit tax return

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When i add my gambling winning and loses it equals zero but my refund went down from 950 to 375. it should still be 950 because i lost the same amount i won

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I must file IRS fms 5329 for TY's 2014, 15 & 16. I have IRS form/inst for 2016, but need forms/instruct for 14 & 15. Plan to req waiver of penalty. Can you help me?

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If you borrow from your 401K but are paying it back is it still considered income if you are paying it back.

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Something about an IRA, I am not sure if I singed up for it or not, but I want to make sure I am not enrolled in it before I submit my taxes, I do not want this.

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My ex wife and I had an agreement to alternate claiming our son, it is not court ordered, it is to be my turn this year, how should I handle that.

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Can you deduct penalties for early retirement distribution

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I understand the limit to a Roth IRA contribution is $6,500 for the year for an individual. My wife and I are married filing jointly. Can we then contribute double that amount or $13,000 for the year?

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Retired and moved to another State in 2016 Only pension and IRA distribution income involved.

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Retired. Do we file Taxes? SS only+$1000

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In 2015 I claimed Social Security Benefits which I had to return in 2016 because I earned more than the allowable. How do I report/claim this refund.

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I used Turbo Tax as an estimator for 2014 & 2015, but did not file through you yet. I am making the switch for 2016, how do I get rid of old inaccurate info from 14-15

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My state pension is not all taxable federally and not taxable on the state at all

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Where do i indicate that i actually used my retirement money for purchase primary residence so i can get the penalty money back?

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I completed the information closely to determine if we can make an IRA,distribution before yearned without it being taxable How can I determine this?

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My boyfriend got a loan for a house we live in. I used a loan from 401k for 1/2 down pymt and improvements. Will I be able to claim any of this since I'm not on title?

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My sons receive SSI benefits. This year they also inherited money. Can Turbo Tax help me file for my sons?

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If I am 70 1/2 and still working and participating in a 401k program, am I required to take a RMD from that account?

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I turned 59 1/2 on nov 29 '16. does turbo tax deluxe give me the option to report how much i withdrew from my 401K before i turned 59 1/2 and after i turned 59 1/2 in '16

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7 Replies 1183 Views

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My wife was in an auto accident and received insurance payments @$1000.00 per month for ten months for income loss, would these payments be taxable?

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If i receive a 1099 for a reward point purchase can my wife file the amount instead of me if they are things for her?

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My husband received a AD&D payout from the policy he has through his work. It it taxable

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2 Replies 629 Views

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Inheriting a 401k

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Health Savings Account. I received Medicare 6 mo retroactively, while making contributions on the account. I understand I can take money out, but how to fix taxes?

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8 Replies 1648 Views

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I received a settlement that put me 35,000 over my SS and pension ...is there still an income averaging to knock my tax owed done a hair...i will be 50,000 down this year

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I am 62 years old, live in Calif. retired 8/01/2016, I need to close out my 401k and pension. What state abd federal taxes should I have withheld

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I took an early withdrawal from my traditional ira. May I offset the 10% penalty with a 529 payment (60% principal and 40% earnings) for qualified education expenses.

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I paid off my mortgage, how much additional should i contribute to 401k or deferred compensation program to offset loss of mortgage deduction?

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Rolling over traditional ira to roth

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3 Replies 1184 Views

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My 16 year old just got a job. What should I (parent) put in his W-4 if he is working less than 20 hours a week and making minimum wage?

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On form 1099-R the Payer's address is not listed. How or where can I get this information as it is required to Efile according to TurboTax?

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Can I withdraw only the contributions from a 401k rollover into a Roth IRA or do I have to withdraw proportionately from contributions and earnings?

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Can I deduct the amount of the penalty charged by my IRA firm from the amount of the distribution on my taxes?

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I have a LLC but I'm treated as an S-Corp. I did not pay myself a salary. Do I issue myself a 1099 for the money I received? If not, where do I claim the income?

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Does the lease payment to an off campus housing complex meet the qualified room and board education expenses to avoid the 10% penalty for early IRA withdrawal?

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We had to pay back percentage of long term disability insurance after he received social security benefits. Where would we claim that amount on our taxes?

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My spouse is 49 and has been deemed disabled by Social Security. Can she withdraw from her 401k without penalty. We believe yes but we're not sure because of her age.

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When filing for total permanent disability for discharge of federal student loans what is the tax rate I will have to pay on $25,000

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How do I know if I have a IRA or Roth IRA?

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Is a Probation officer considered a public safety officer?

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If I take a hardship withdrawl from my 401k for medical expenses are there penalties

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I sent my Virginia 763-S (including my DC tax return per the Turbotax instruction sheet). But I received a letter from VA asking for my W-2, 1099 and Schedule INC.

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Can one contribute to a Roth IRA without earned income?

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NYS Teachers Retirement and New York State Local Employees Retirement benefits are both FULLY exempt from NYS tax. How do we get them off our NYS tax return?

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I took a hardship withdrawal from my 401K to purchase a home, can I get credit for that?

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3 Replies 1893 Views

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If my wife and I file separately, is her IRA contribution deductible?

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Did not roll over 401k. Just left it in the account and forgot about it. How do I file it?

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Question about 401k, withdrew $35000 paid $7000 in taxes so $28000 left to pay bills because wife lost job. what amount do i put in box that ask about other reason?

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Early distribution from IRA - does paying student loans qualify as "higher education"?

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Can i use Rollover IRA to pay for son's college without being penalized 10%?

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Do I need to file NJ state return? Married couple, both retired, no wages, only 1099 int and Div, no draws on pension. No income tax withheld

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I took an early withdrawal from my retirement plan to pay for my dependent's higher education, am I subject to the additional 10% tax.

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On box 13 of my W2 I have a x under retirement plan . what does it mean ?

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I moved funds from a traditional IRA to a 403(B). Do I report this and how?

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1 Reply 605 Views

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I moved money from a ROTH 401K to a ROTH IRA. I received two 1099-R forms, 1 with a taxable amount and a "G" code and one with no taxable amount and a "H" code.

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1 Reply 2018 Views

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2018 Views

I won money from Texas Lottery ticket and the Texas Lotto sent me the gambling form to enter in my tax return, but I have missplaced it. What should I do?

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1 Reply 3098 Views

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Is a long term disability, lump sum settlement , taxable? I paid into it for yrs,.I am still disabled .

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1 Reply 2505 Views

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I won $10,000 on a scratch ticket and did not find the place to file in state

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2 Replies 847 Views

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Can a married couple use a 20k early IRA distribution to buy their first home and avoid the early withdrawal penalty?

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5 Replies 1523 Views

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My husband is 100% disabled veteran and he receives a retirement check and social security from the VA. Do we need to report any of these funds on our taxes? What VA funds would we need to report?

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Does KY charge taxes on an early withdrawal from a 401k account? If so, does the turbotax software account for this when filing?

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I owe $4,000 in taxes despite claiming "0" exemptions on both my military retirement 1099 and civil service W-2. How can I get more tax withheld throughout the year?

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IRS deems per diem taxable after being in a 50 mile radius for a year,A significant break restarts the calendar year,not defined but at least 3 weeks what is code is it

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Should IRA withdrawal be before Jan 1 2016 to be considered in 2015 or I can withdraw upto Apr 15th 2016 and still put them on 2015 tax form?

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Can I move my 401k to IRA and then withdrawal money without penalty to pay for education?

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Is it possible to avoid tax penalties on a 401k loan default by opening an IRA for the same amount as the outstanding loan balance?

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I work for the Texas school system and make monthly contributions to TRS retirement account. Is my TRS considered an IRA? Can I use this as part of my deductions?

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Are contributions to 401k plans subject to FICA and Medicare?

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I received money as part of a divorce settlement is this taxable. how declare it

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