Retirement Tax Tips and Answers | TurboTax® Support

Do I report the missed RMD in the year I should have taken it, or the year following when I receive the 1099R

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5 Replies 6812 Views

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6812 Views

Have a 1099 that does not appear on IRS wage and income transcript. how to report? tax year 2016

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8 Replies 6845 Views

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Problems entering Solo 401(k) for myself and spouse

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Will the irs take your ira for past due taxes

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Roth conversion from traditional IRA with some nondeductible contributions

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Excess HSA Contribution in 2018

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So do I understand correctly that any profit that my ROTH made before recharacterizing, is not taxable?

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4 Replies 1284 Views

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Wk 4 small biz&agreed they wld cover my med exp as I entered medicare&veteran.Its not a formal HRA but was the plan 4 no ins plan.Is this tax inc.where reprt the income?

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3 Replies 1069 Views

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1069 Views

On k-1 entries how do you expand a box that has more than 3 entries. I have 5 entries but only 3 places for info. Another box doesn’t drop down after I have filled out

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Form 8606

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SEP contribution for extended tax filing amendment

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My LLC is a passion project - expected impact on taxes?

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4 Replies 1793 Views

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1793 Views

How do I report traditional IRA distribution received through a trust?

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3 Replies 4362 Views

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I am retired but I work part time. So do I enter my occupation as retired?

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1 Reply 5595 Views

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5595 Views

Do you pay state taxes if you have an early withdrawal from a retirement account

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1 Reply 13878 Views

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13878 Views

Self employed retirement plans - where do I enter my contribution for 2018?

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3 Replies 1113 Views

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Forth ROTH IRA, do we need to wait 5 years to withdraw the original/contribution (NOT earnings)?

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5 Replies 1842 Views

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1842 Views

Do I pay self employment tax if over 72 and receiving social security?

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1 Reply 2272 Views

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My 1099-R is to go towards clergy housing allowance. I followed the steps but it adds it as taxable income and not housing allowance. What now?

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1 Reply 1344 Views

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1344 Views

I am a resident of GA and get a retirement from both the Teachers retirement system of GA (2017)and the Teachers Retirement system of AL. Al is trying to tax GA income?

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1 Reply 1487 Views

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1487 Views

Is my pension for Wisconsin Retirement System taxable in Wisconsin

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1 Reply 1427 Views

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1427 Views

Contribute to an IRA if husband has plan at work

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2 Replies 1253 Views

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1253 Views

I usually file a joint return with my wife. I always have income she doesn’t. she earned less than $2000 on a W-2. Do I have to add this to the return?

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1 Reply 909 Views

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Do I have to file 1041 for my-mother-law? She was an irrevocable trust with 1600 in Interest. He only other income (total $25000) is from SS and pensions.

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1 Reply 852 Views

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What are "Substantially equal periodic payments(SEPP)" as an exception to the early withdrawal on a retirement account?

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5 Replies 3267 Views

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TURBO TAX ASKED "WHAT DOES YOUR WIFE DO FOR A LIVING", MY WIFE CURRENTLY DOESN'T WORK BUT DID IN 2016, HOW SHOULD I ANSWERE THAT QUESTION"

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1 Reply 1061 Views

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1061 Views

Turbo tax asked for my schwab 1099-R. It transferred a/c details from 2015 distribution.. But no 2016 1099-R at Schwab - no distrib in 2016 - . But Turbo kept asking q's.

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2 Replies 1526 Views

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1526 Views

Why is my IRA conversion being taxed at a higher rate than my income tax rate?

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2 Replies 1309 Views

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1309 Views

I received money from my deceased aunt's estate. She lived in Canada. I received no form. Where would I enter this information.

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1 Reply 1519 Views

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1519 Views

I inherited a 401K, the 1099-R indicates Code 4 in box 7. It is not eligible for a rollover. I paid the Federal Tax, is there a tax owed to the state of California?

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1 Reply 2823 Views

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2823 Views

I receive monthly payments from California State Teachers' Retirement System. It is a "Simplified Plan." What is the "Plan cost at annuity starting date?"

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1 Reply 1040 Views

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1040 Views

My husband contributed $5500 to ROTH in 2018 for 2018. Now he wants to switch to traditional IRA to lower the taxable income. Can he do that in 04/2019 for Tax year 2018?

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710 Views

My contribution to my Simple IRA was postmarked April 10 but Schwab claims they received it on the 17th and have posted it as a 2019 contribution. What can I do?

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7 Replies 2181 Views

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2181 Views

In 2018 I want to have zero contribution towards my self-employment retirement. How do I get rid of the number showing (originally I wanted to maximize my contribution)?

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1 Reply 1076 Views

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1076 Views

My income is lower in 2016 and with deductions I am in the 15% tax rate. Can I convert part of a Rollover IRA into a Roth IRA before April 15 to be taxed at 15% in 2016?

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2 Replies 1009 Views

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Entering K-1 add' info form. For Box 20 Code Z (1-5) the description of Z1-5 on TTax form is different than PTP Statement. Do I simply put in the amounts for Z1-5?

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1 Reply 2280 Views

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2280 Views

SEP contribution - how does the IRS know?

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7 Replies 6017 Views

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6017 Views

If my ONLY source of income was a 1099-k of $2900, do I still have to file taxes? Or do a qualify to not file taxes because I am single and made under 10k?

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1 Reply 1932 Views

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1932 Views

On 1099, does it matter where income is reported: Box 1 or Box 7? Often, labor and rents are combined in Box 7.

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Which form should we use to enter all 44 of our assets from the Depreciation Detail Listing that our CPA used dating back to 3/1/1985?

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2 Replies 1911 Views

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1911 Views

Can I include personal oil royalty income with my business income for determining how much I can contribute to my SEP IRA.

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Where, if anywhere, does IRA distribution1099-R income ($850) for a 20 yr. old college student get reported?

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1 Reply 902 Views

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I took a distribution for the first time in 2018, from my trad. IRA. 49 days later I paid 1/2 to IRA. Does it qualify as a non-taxable rollover, and how do I enter it?

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4 Replies 1489 Views

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1489 Views

What reporting & tax differences exists when a former employer reports income via 1099 using an Ind. Con. SSN vs. the EIN of the S-Corp they established during that year?

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13 Replies 3286 Views

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I inherited funds from an IRA as a death beneficiary. We did not know it was taxable. Can I get a waiver for the penalty since I did not know I had a taxible benefit?

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1 Reply 1030 Views

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1030 Views

How do I compute "earned income "as a self employed person to determine the maximum contribution I can make to a traditional IRA?

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3 Replies 1328 Views

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On review I keep getting the message" 1099-R payers zip- Either state or country code is required. I have 2 1099-Rs. Both are correct. What is next step?

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1 Reply 1587 Views

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1587 Views

I made an early withdrawal from a government retirement plan. My 1099-R shows a distribution code 1 - does this mean I don't have a 457 plan?

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5 Replies 2040 Views

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How to I use TT to help me figure the best place to put contributions in my IRA or SEP-IRA?

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1 Reply 925 Views

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I made the maximum SEP contribution (employer) and want to make the maximum Roth contribution. Turbotax is telling me that I can only make one or the other. Why?

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1 Reply 1003 Views

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1003 Views

It is asking for information from a 1099-R and I don't have one. How to clear from Turbo Tax

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2 Replies 1167 Views

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I have a 1099r in which box 1 is less than box 2a. what do i do?

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4 Replies 3463 Views

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I contribute to 401k can i also contribute to ira other than roth ira

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1 Reply 955 Views

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955 Views

Entered 4 1099-Rs. 2 have the check box that it's an IRS checked, which I put into TurboTax. Why do these amounts not included on 1040 line 4a? There's nothing there.

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2 Replies 980 Views

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980 Views

I have city retirement that I put in and don't know where to put on return

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2 Replies 954 Views

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954 Views

Got several 1099s that under reported my earnings. I am using Home and Business. D I have to list each company their EIN or can I break it downbetween 1099 and general?

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1 Reply 801 Views

1 Reply

801 Views

How do I report a recharacterization if I already received my 1099-R for 2016?

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1 Reply 1058 Views

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1058 Views

Can I split a form 1099?

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1 Reply 1317 Views

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1317 Views

Where to enter solo 401k contributions for selfemployed individual on NJ state income tax

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2 Replies 1368 Views

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1368 Views

I lead worship/music at my church and they give me some money each month for preparing it. However, they don't give me a 1099. I'm confused where to put this in TurboTax.

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1 Reply 759 Views

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759 Views

My 2016 MAGI was too low for the maximum ($6,500) Backdoor Roth IRA contribution. Must I recharacterize some of the converted funds?

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3 Replies 1597 Views

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1597 Views

How to report ROTH 401(k) excess contribution?

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5 Replies 3155 Views

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3155 Views

Where do I enter income earned for one day when I didn't recieve a tax form for the income?

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2 Replies 1318 Views

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1318 Views

I over contributed to my 401k in 2016. What do I report in 2016 without the 1099-R? What boxes should I not miss filling out?

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1 Reply 825 Views

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825 Views

I’m retired and receive a w2 for imputed income for a domestic partners health care coverage. Does the amount include the Social Security and Medicare taxes?

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1 Reply 1688 Views

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1688 Views

Where is the corrected box for 1099 this year?

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1 Reply 1648 Views

1 Reply

1648 Views

How do I reverse a promised but now impossible IRA contribution for a filed return?

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6 Replies 1890 Views

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1890 Views

Having trouble with TurboTax handling being employed part of the year and participating in the 401k and being self employed the rest of the year and doing a solo 401k

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1 Reply 1133 Views

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1133 Views

I have a work retirement plan, how do I determine how much I can put into a traditional IRA for deduction purposes?

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1 Reply 842 Views

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842 Views

If I have a small amount of income from Air BnB, where should I enter that in Turbo Tax?

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1 Reply 1489 Views

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1489 Views

If I use an IRA distribution to fund a construction project in my Schedule C business, should I add it to my business income? Would it be taxed twice were I to do so?

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1 Reply 928 Views

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928 Views

When I try and get the IRA deduction, TT is combining my wife's income with mine. The total is too high for the deduction. Not happened before. What should I do?

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1 Reply 793 Views

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793 Views

For my 401k, I entered $10,250 in "Elective Deferrals" I clicked the box "Maximize contribution..." which then came up with "Max. Allowed" as $33,706.

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2 Replies 1294 Views

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1294 Views

I have about a dozen 1099-mis to report; can I aggregate the total as one line item on my return, or do I need to break out each form with the full details of the payee?

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2 Replies 1074 Views

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1074 Views

I received a 2018 1099-R for a 2017 Roth distribution.Taxable amount $.06 Box 7 code P, but in TT 2017 that code indicates 2016 distribution, so I can’t properly amend.

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7 Replies 2087 Views

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2087 Views

457 contributions: I contributed $24500 to a 457 which is allowed because I am over 50 in 2018. TT is allowing this for 403b, but not for the 457 and will not file.

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3 Replies 1328 Views

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1328 Views

When I enter a 1099-R for my 401K withdrawal it is asking me about a disaster reason. What is that?

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2 Replies 924 Views

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924 Views

Do I add 1099-r form and 1099-g form to return?

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4 Replies 1531 Views

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A retired court reporter & has Sch C inc. She kept the county's hlth ins & the prems were deducted on her mthly county pension pymt. Can I deduct the prems pd on Sch C?

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1 Reply 949 Views

1 Reply

949 Views

I received a distribution check from my from my 401k (1099R) in 2016. We did not cash it and it was canceled by the broker. Are we required to report it in 2016?

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4 Replies 1861 Views

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1861 Views

1099 retirement -Why should I need to file a nonresident tax form if I was a full time resident of the state the full year? The union pension fund deducted taxes on pay

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1 Reply 921 Views

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921 Views

Retirement Deductions Results says the Amount to be Contributed by Plan Due Date is -$1793. I have no idea what this means or what to do...

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1 Reply 956 Views

1 Reply

956 Views

Turbo tax help says the ovr 50 catch up contribution limit for a self-employed individual 401k plan is $5500 but pub 560 sys its $6000. Is pub 560 right.

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1 Reply 1407 Views

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1407 Views

I withdrew an ira cd early and paid an early withdrawal penalty, is this deductible?

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5 Replies 1963 Views

5 Replies

1963 Views

At age 65, can I withdraw from SEP IRAs and Trad IRAs right after making the contributions on April 15th?

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1 Reply 1237 Views

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1237 Views

Net conversions to a Roth IRA?

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1 Reply 1536 Views

1 Reply

1536 Views

TurboTax asks for your IRA Basis when going through IRA Contributions. Would I include any SEP-IRA Contributions made by my employer? Current or previous years?

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1 Reply 1250 Views

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1250 Views

We are in the middle of construction project on our home that began in Oct. We have a const. loan and only pay interest on the money we have used to date. How to report?

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1 Reply 1008 Views

1 Reply

1008 Views

I had a 1099 R but then rolled over 100% of the distribution why does it show as taxable?

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1 Reply 884 Views

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884 Views

I need to report an annuity cashing out

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1 Reply 882 Views

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882 Views

How to enter credit for planned qualified retirement savings contributions for 401k

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1 Reply 859 Views

1 Reply

859 Views

Got approved for federal extension but went ahead and filed forgetting that I needed to contribute more to my solo 401k

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1 Reply 1202 Views

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1202 Views

If i received funds w/o a legal settlement or a 1099 form issued from an individual as reimbursement to copyright infringement damages where does it go on my tax return?

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4012 Views

I receive a pension from a public school retirement system that I contributed to. What do I put for source?

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2 Replies 1515 Views

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Should I get all medical insurance premiums/expenses as a deduction? I am self employed & my wife is retired. How do I get TT to take the entire deduction not the 7.5%+?

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1 Reply 837 Views

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837 Views

Can Retirement distribution go to your principle of your mortgage? There was only 10% taken for Fed and no state and because of the amount, it says I owe taxes of $20K

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1 Reply 821 Views

1 Reply

821 Views

I contributed 5500 to my roth ira, but it says only 3100 is allowed due to modified adjusted gross income, and they want me to remove 2400 excess before april 15? why?

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4 Replies 1428 Views

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1428 Views

We retired last June & Dec. 2018 & not sure if we need to pay est. taxes next year for 2019? We owed $2K in 2018 on our taxes. Inc. will decrease significantly this year.

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1 Reply 729 Views

1 Reply

729 Views

Why is tax liability $1500 higher on a cashed out IRA belonging to husband than if it belonged to me?

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27 Replies 4180 Views

27 Replies

4180 Views

I’m 65 and have SEP IRA contributions from 2017 that will become long term on April 12th. Can I use it to fund 2018 by doing a w/d and then contributing back for 2018?

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4 Replies 1464 Views

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1464 Views

I am filing out my 8949 entries via the easy question and I can not get the explanation code to match my 1099-B.

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6 Replies 2275 Views

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2275 Views

Does turbotax support Life Insurance Statement form 712?

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1 Reply 1656 Views

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1656 Views

I am a sole proprietor that contributes as the employer to my 401K. Where do I enter the contributions? I am using TT home and business for 2017. Thank you.

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2 Replies 1152 Views

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1152 Views

Reporting 1099 income on Schedule C. Do I have to include the 1099 form when I mail my return?

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1 Reply 795 Views

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795 Views

My brother and I received money from our mother this year over $15,000.00 do we file the amount on our taxes anywhere? Does our mother need to file a form or pay taxes?

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1 Reply 887 Views

1 Reply

887 Views

Do I report a $12,000 social security payment to my daughter as part of her mother's benefits, and if so how? Our daughter turned 18 in 2016 and had no other income.

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1 Reply 1229 Views

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1229 Views

Can you provide guidance on how to direct both federal and state refunds to an existing roth IRA account within the e-file process?

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1 Reply 886 Views

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886 Views

I have a form 5498 but no 1099-r so I cannot answer all of the questions. This is a straight roll over to an IRA what do I do?

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1 Reply 1285 Views

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1285 Views

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

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1 Reply 1290 Views

1 Reply

1290 Views

How can I rollover a forced distribution from a 401K to an existing rollover IRA and recoup the withholding upon filing this year's return?

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2 Replies 1559 Views

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