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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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 6743 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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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 1043 Views

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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 1763 Views

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

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

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

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

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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 1807 Views

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

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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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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 1472 Views

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1472 Views

Is my pension for Wisconsin Retirement System taxable in Wisconsin

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1 Reply 1412 Views

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Contribute to an IRA if husband has plan at work

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2 Replies 1227 Views

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

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5 Replies 3216 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 1048 Views

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1048 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 1505 Views

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

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2 Replies 1284 Views

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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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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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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 1019 Views

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1019 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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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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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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1064 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 976 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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SEP contribution - how does the IRS know?

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7 Replies 5925 Views

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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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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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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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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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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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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 1010 Views

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1010 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 1306 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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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 1991 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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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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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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I have a 1099r in which box 1 is less than box 2a. what do i do?

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4 Replies 3429 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 934 Views

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934 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 951 Views

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

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2 Replies 921 Views

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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 778 Views

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778 Views

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

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1 Reply 1033 Views

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1033 Views

Can I split a form 1099?

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1 Reply 1291 Views

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1291 Views

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

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2 Replies 1291 Views

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1291 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 738 Views

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738 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 1558 Views

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1558 Views

How to report ROTH 401(k) excess contribution?

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5 Replies 3090 Views

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3090 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 1284 Views

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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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800 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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Where is the corrected box for 1099 this year?

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1 Reply 1607 Views

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1607 Views

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

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6 Replies 1839 Views

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1839 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 1113 Views

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1113 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 814 Views

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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 1460 Views

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1460 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 908 Views

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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 774 Views

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774 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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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 1058 Views

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1058 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 2053 Views

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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 1306 Views

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

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4 Replies 1483 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 933 Views

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933 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 1835 Views

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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 900 Views

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900 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 940 Views

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940 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 1350 Views

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1350 Views

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

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5 Replies 1939 Views

5 Replies

1939 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 1213 Views

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1213 Views

Net conversions to a Roth IRA?

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1 Reply 1511 Views

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1511 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 1212 Views

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1212 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 984 Views

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984 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 858 Views

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858 Views

I need to report an annuity cashing out

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1 Reply 851 Views

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851 Views

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

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1 Reply 835 Views

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835 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 1176 Views

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1176 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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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 1489 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 824 Views

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824 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 802 Views

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802 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 1396 Views

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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 712 Views

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712 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 4074 Views

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4074 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 1423 Views

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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 2233 Views

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Does turbotax support Life Insurance Statement form 712?

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1 Reply 1627 Views

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1627 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 1126 Views

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1126 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 777 Views

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777 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 866 Views

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866 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 1215 Views

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1215 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 866 Views

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866 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 1264 Views

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1264 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 1268 Views

1 Reply

1268 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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