Retirement Tax Tips and Answers | TurboTax® Support

I AM THE BENEFICIARY OF A FAMILY TRUST INH IRA. I HAVE TAKEN THE RMD FOR 2017. WILL THIS BE COVERED IN THE TURBOTAX PREMIER?

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9 Replies 1215 Views

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1215 Views

Is form 8959 going to be corrected? TT is calculating and adding additional medicare tax that has already been withheld per my W2. This is causing me to owe more tax.

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12 Replies 4499 Views

12 Replies

4499 Views

We had too much Medicare tax withheld and TT calculates it correctly on Line 24 of Form 8959 but it doesn't pass through to Line 16 of my 1040. Why not?

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36 Replies 6798 Views

36 Replies

6798 Views

How do I report a Canadian NR4 with income codes 26 and 27 for 2018 and where does the NR Tax Withheld show up on the worksheet?

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6 Replies 3985 Views

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3985 Views

On form 1099-DIV why do I pay taxes on the sum of 1a, 1b, and 2b? I never received this money yet it was reinvested.

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5 Replies 756 Views

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756 Views

How do you enter tuition remission (over $5,250) that is non-taxable as a fringe benefit?

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11 Replies 2611 Views

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2611 Views

Inherited IRA from parent. Know how to calculate from bases of estate. I need to know how to enter into TT. There is a tax benefit I can claim. Hope this made sense.

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9 Replies 1667 Views

9 Replies

1667 Views

Federal taxes on California paid family leave 1099-G. Can I deduct SDI payments made to California from 1099-G payment?

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5 Replies 2428 Views

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2428 Views

MAGI for Roth contribution

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1 Reply 343 Views

1 Reply

343 Views

Do I need to provide proof of higher education expenses that were paid from an early withdrawal from an IRA? Can I count off campus housing as an expense?

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6 Replies 2762 Views

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2762 Views

Unexpected outcome when trying to amend my 2016 tax return

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2 Replies 488 Views

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488 Views

Feedback for Turbotax improvement - show the Medicare MAGI.

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8 Replies 1958 Views

8 Replies

1958 Views

Non-employee Compensation on 1099-MISC not business income

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1 Reply 420 Views

1 Reply

420 Views

401k rollover to Simple IRA.

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1 Reply 597 Views

1 Reply

597 Views

How are Social Security and Medicare tax withheld used to calculate the federal taxable income?

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6 Replies 2098 Views

6 Replies

2098 Views

I filed my PA state tax returns through Turbotax and I owed $1307 to the state. But my retirement annuities are non taxable in the state of PA. Should I amend?

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3 Replies 828 Views

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828 Views

My gain in 2018 IRA was $27,000 but I didn’t work in 2018 and this year. Please let me know I am illegible make a legal contribution in 2019 without penalty Best R

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4 Replies 1546 Views

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1546 Views

How can I calculate Mass traditional IRA non deductible contributions when I only have records back to 2003 but have contributions in prior years?

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1 Reply 428 Views

1 Reply

428 Views

What tax forms should I fill for a return on excess contribution to my 401k? Should I report in “Miscellaneous Income section or Retirement Plans and Social Security”?

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4 Replies 1753 Views

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1753 Views

I contributed and then performed a backdoor Roth in Feb '18 for '17 tax year. My broker will not give a 1099. How do I report my '17 tax year backdoor Roth w/o a 1099?

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9 Replies 5761 Views

9 Replies

5761 Views

I retired from New Jersey to North Carolina August 1, 2017. To which state do I report Federal retirement income?

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1 Reply 862 Views

1 Reply

862 Views

Is there a spreadsheet summation error for Line 51 of the TurboTax IRA Information Worksheet supporting Form 8606 (Nondeductible IRAs)?

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1 Reply 871 Views

1 Reply

871 Views

How do I avoid paying additional tax for converting from Traditional to Roth IRA if rollover from pretax 401K to Tra IRA occurred after the conversion both in 2017?

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5 Replies 1290 Views

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1290 Views

How to handle a Roth recharacterization that transferred too much back to the Traditional IRA?

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4 Replies 1181 Views

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1099 dividends and distributions. I copied return from last year. But I do not see that the mutual funds have transferred over. Do I have to enter them all in again?

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3 Replies 720 Views

3 Replies

720 Views

CP2000 in regard to missing 1099-R report for Roth IRA excess contribution

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1 Reply 813 Views

1 Reply

813 Views

I have a K-1 with ownership percentages, but all entries in the numbered boxes are zero. TurboTax says it's blank. Do I not need to file if there's no income, expenses?

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1 Reply 419 Views

1 Reply

419 Views

I'm retired with no W-2's. I pay estimated State taxes. Where do I enter my SALT information on my Federal return (for the last time)? Thanks.

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1 Reply 508 Views

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508 Views

I have a 1099 made out to me, but I reported it on a business return. I have to enter it on my 1040..where do I deduct the amount so that the net effect is neutral?

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2 Replies 493 Views

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493 Views

Accidentally I deposited extra amount onto my wife's IRA account. Can I withdraw that without paying any penalty? Instead of single 1500$, I deposited double 1500$

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1672 Views

Is there a reason that every time I return to my Turbo Tax for 2016, the dates I had entered on the Oregon Info Worksheet Part VI for Federal Pension Service are missing?

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2 Replies 479 Views

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479 Views

Backdoor Roth. Do I report a 2016-R for non-deductible IRA that I created in Jan 2016 for 2015 year on my 2016 return even though I reported it on my 2015 return?

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2 Replies 500 Views

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500 Views

Why did my husband’s ex-employer not deduct social security from RSU’s granted in 2016, deducted only income tax. He has not maxed out on his social security taxes.

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1 Reply 417 Views

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417 Views

Calculation of traditional IRA basis after converting to Roth

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1 Reply 569 Views

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569 Views

1099-R I've entered the 1099-R's but they are not flowing into my 1040, so the tax owed is under what it should be

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Do I need to include the amount in box 12 code p from my W-2 into the TT software if my reimbursement was 100%?

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4 Replies 2576 Views

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2576 Views

Is the public employees retirement pension received from Mississippi taxable for a person living in Ma on the Ma State tax return

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1 Reply 547 Views

1 Reply

547 Views

How to input IRA contributions and backdoor roth that is made in 2018 but for 2017 ?

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7 Replies 1209 Views

7 Replies

1209 Views

I received a k-1form1065 from a 401k investment. Do I need to record this in 2018 tax return? Thanks.

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1 Reply 376 Views

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376 Views

TurboTax EasyStep asked for Trad. IRA combined values on 12/31/18, which is visible on the IRA Worksheet but does NOT appear on Form 8606 Line 6. TURBOTAX ERROR???

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4 Replies 809 Views

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809 Views

Under the qualifying relative gross income test, can a contribution to an IRA reduce gross income?

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1 Reply 700 Views

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700 Views

1099 S from the sale of the an inherited house in MA. I live in MD. When I entered the 1099 S the MA state download popped up. Will I have to submit a tax form to MA?

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1 Reply 373 Views

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373 Views

Do I report a RMD for a traditional pension and three annuities that all have fixed annual amounts taken in monthly installments?

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3 Replies 977 Views

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977 Views

1099-R with code 3 in box 7 for a disability pension at an age younger than the minimum work retirement age......

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2577 Views

I need to file 1099R forms for both myself and my wife on our joint return. Unfortunately, Turbotax immediately puts my name on both 1099R forms.

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1 Reply 501 Views

1 Reply

501 Views

Form 1099-R retirement

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1 Reply 475 Views

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475 Views

Can I withdraw an IRA contribution I make on my 2018 tax return in 2019? I am 66 years old and already taking some distributions from my IRA.

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1 Reply 378 Views

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378 Views

I'm ready to file, but line 10, taxable income, is $3,099 Line 11 Tax = $0. I checked IRS tax tables, shows from $3,050 - $3,100 TAX is $308, could you please explain.

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3 Replies 524 Views

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524 Views

Why do I owe a penalty for Excess contribution to Roth IRA when it was aconversion from a Traditional IRA to a Roth IRA?

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2 Replies 748 Views

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748 Views

Mutual fund legal settlement distribution shows up on 1099B, where to report this?

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1 Reply 647 Views

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647 Views

Are "W-2 other compensation" eligible IRA contributions? I retired fr the City. All City retirees receive $350 monthly less FICA. City sends W2 $4,200 "other comp" yearly

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1 Reply 480 Views

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480 Views

I received a 1099R from my insurance company. Do I state it was an RMD?

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4 Replies 1950 Views

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1950 Views

How do I correct a failure to file a 2014 1099-R reporting a Roth distribution correcting an excess 2013 Roth contribution? I'm on my 2016 taxes now?

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3 Replies 683 Views

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Can I choose whether to withdraw an excess 401(k) contribution from a rollover IRA account or an active 401(k) account?

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1 Reply 718 Views

1 Reply

718 Views

My husband retired in July 2016, his shares were sold back to the company per policy. Do we need to file a K1 for the first 6 months?

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1 Reply 390 Views

1 Reply

390 Views

If you are enrolled in a company 401K but do not contribute the maximum allowed, can you make an IRA contribution for that year?

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1 Reply 641 Views

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In a year in which an RMD is taken, can a proportion(RMD value/total value) of the asset based fees for the 401k be taken as an investment expense?

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9 Replies 1449 Views

9 Replies

1449 Views

Can a married couple with both partners working (or recieving a pension) cover their total tax withholding requirement on only one partners job?

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1 Reply 512 Views

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512 Views

Are the yearly 401-a distibutions my retired (school teacher) wife has been getting for years considered RMDs or does it even matter?

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1 Reply 636 Views

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636 Views

My IRA to Roth IRA conversion had non-taxable amounts, but the 1099R form said undetermined and put the whole amount. Where do I adjust?

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1 Reply 901 Views

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If I receive gift from of, say, $100,000 from a trust for a deceased, do I have to pay tax on it?

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3 Replies 1320 Views

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1320 Views

Reduce 2018 AGI by returning all SSA benifits?

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3 Replies 1015 Views

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1015 Views

How do I enter my roth conversion when i did not receive a 1099r because the conversion was made in the next year, but before the deadline?

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1 Reply 386 Views

1 Reply

386 Views

T-IRA to Roth conversion prompting me to explain excess contribution?

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6 Replies 1347 Views

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1347 Views

Is there anything I need to do for my SEP-IRA account since I didn’t have any self employed income in 2018 and also may not have any in the next a few years?

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1 Reply 450 Views

1 Reply

450 Views

Form 1099-R shows my early withdrawal and my regular withdrawal, but Turbo Tax tells me the entire amount is early withdrawal. How do I get around this?

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1 Reply 467 Views

1 Reply

467 Views

Since my 1099-B has more than 3000 transactions from Motif Investing, TT cannot import it and tells me to mail in 8453 form with 1099-B. But the 1099-B is 326 pages long.

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14 Replies 3897 Views

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3897 Views

I am rolling over a 401K disbursement delivered to me by a check, within 60 days. I have no other income. Do I have to file a 1040A, a 1040EZ, or nothing?

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5 Replies 1431 Views

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1431 Views

If the basis of a non-deductible IRA is sufficient, can a distribution be fully non-taxable on F8606 or is it always partially taxed until basis is zero?

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1 Reply 447 Views

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447 Views

What can I do to bring forward the taxable amount from a 1099R instead of the entire amount?

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1 Reply 464 Views

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464 Views

I have 8606 with non deductible IRA balance form prior year’s. Where in TT can I find how to handle this situation when receiving Dist from an IRA?

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3 Replies 814 Views

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814 Views

My w-2 box 20 says "VDI P,P #" and box 19 doesn't have a $ amount, it has "#247-62314" - what does this mean? I cannot enter a "#" in turbo tax

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3 Replies 2236 Views

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2236 Views

When I enter my IRA bases (contributions from the 80's) I'm told that I'll need to get forms 8606-T and 8606-S. How can I get the program to properly accept the bases?

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1 Reply 489 Views

1 Reply

489 Views

If I have a pension from State of Florida, and am currently a resident of Alabama, is this pension taxable on Alabama state return?

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1 Reply 381 Views

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381 Views

I made excess contributions to my 401K (job change). How do I account for this? Add the excess back to the income from second employer? No 1099-R form received.

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1 Reply 530 Views

1 Reply

530 Views

Do i enter 5500 or 0 for trad ira cost basis? i did not submit form 8606 in 2014 and i added 5500 this year to ira. contributed twice (2014 and 18). will send 14' 8606.

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3 Replies 560 Views

3 Replies

560 Views

Where/how do I enter data from a form 1099-Q?

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1 Reply 418 Views

1 Reply

418 Views

My Pension 1099-R from NJ does not include boxes past 13. I live in SC. No taxes were taken out. Is this taxable in SC?

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2 Replies 838 Views

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838 Views

I am disabled since 6/07, had a 401K, made the medical withdrawal; I thought I withdrew all funds, just received the 401K statement of 989.00 balance, please help me.

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1 Reply 500 Views

1 Reply

500 Views

If my IRA was invested in stocks bonds and mutual funds why aren’t my withdrawals treated as investment income?

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1 Reply 476 Views

1 Reply

476 Views

RMD entry on turbotax

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1 Reply 553 Views

1 Reply

553 Views

My employer checked box 13, Ret. Plan, even though I made no contributions in 2018. My traditional IRA contributions are not tax-deductible now. How should I proceed?

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8 Replies 1611 Views

8 Replies

1611 Views

Do I have to claim my wife’s $3900 on our taxes?

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1 Reply 492 Views

1 Reply

492 Views

Do I need to report on 2017 return or amend 2016 return if I recharacterized a Roth contribution made in March 2016 to a traditional IRA in Feb 2017?More details below.

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8 Replies 3447 Views

8 Replies

3447 Views

My 1099-R box 15 includes premiums withheld for Health Benefits and Dental/Vision; in Turbo Tax, box 15 = Local Tax information. Where do I enter health premium data?

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1 Reply 936 Views

1 Reply

936 Views

How do you find a 1099R plan cost at annuity starting dae when it started in 2009

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1 Reply 853 Views

1 Reply

853 Views

How do i add a traditional IRA ($5500) i opened years ago but did not report on taxes? i make too much, so no deduction

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1 Reply 395 Views

1 Reply

395 Views

In 2015 I made an after-tax contribution to Trad IRA. In Jan of 2016 I recharaized that contribution to Roth IRA. Now I have a 2016 taxable withdrawal from my Trad IRA.

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9 Replies 1127 Views

9 Replies

1127 Views

I received a 1042-S with income code 15, exemption code (chapter 3) 04. I am looking for information on where to enter this information in TT.

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17 Replies 11259 Views

17 Replies

11259 Views

Everything I read about MLP’s, they shouldn’t be bought in an IRA/Roth because UBT of $1,000 causes problems. I got a K-1 in my IRA with a $1000 UBT.

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1 Reply 626 Views

1 Reply

626 Views

W-2G Summary Elective deferrals - SP $37K is more than the allowed $18500 for a 401k plan. The program is wrong because W-2G summary - 12a is D + 12a is E respectively.

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3 Replies 898 Views

3 Replies

898 Views

TurboTax wants a W2 state and zip code but I have none (retired) and won't let me submit without it. How do I proceed?

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1 Reply 425 Views

1 Reply

425 Views

I used funds from a Roth IRA to build a home. It was not my first home. Can I claim it on my taxes?

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1 Reply 457 Views

1 Reply

457 Views

Why is the taxable amount in my 1099r 2a not reflected in my 1040 4b?

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3 Replies 671 Views

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671 Views

Can I enter more than 20 1099-Rs? I have 24 1099-R forms, only 20 were imported, seems to be a limit.

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4 Replies 978 Views

4 Replies

978 Views

Conversion from traditional IRA to Roth IRA where traditional IRA contained contributions from more than one year ago.

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4 Replies 924 Views

4 Replies

924 Views

How to correct 401k excess contribution made in 2018?

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3 Replies 1546 Views

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1546 Views

I made Traditional IRA & Roth IRA contributions in 2016. I exceeded income limits for that year. Both values become basis carryover as of 12/31/2018. What should I do?

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6 Replies 1491 Views

6 Replies

1491 Views

Should I file an illinois return for a 1099r that was issued even if I did not live in illinois in 2018

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1 Reply 407 Views

1 Reply

407 Views

Just received a check from Fidelity on the 401k over payment for 2018. Didn't receive any other paper with regards to the overpayment. How do I proceed now?

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1 Reply 786 Views

1 Reply

786 Views

I received a W-2 from my exemployer with $0 in all boxes, except box 12 with code DD. I've been retired since 2014. Can I ignore this W-2 or must I list it on my return?

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1 Reply 487 Views

1 Reply

487 Views

Minimum retirement age for a disability retirement pension

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1 Reply 973 Views

1 Reply

973 Views

Does rollover from 403b to IRA-Roth need to go through a traditional IRA? Do new tax laws make pro-rata rule irrelevant in this instance?

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1 Reply 622 Views

1 Reply

622 Views

I have $1300 in pension and $600 in interest and dividend. No W2, If I make an IRA contribution my federal tax owed goes up, why

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2 Replies 550 Views

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550 Views

Can I contribute to my traditional IRA for 2018, after having done an excess removal from my Roth IRA for 2018?

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1 Reply 370 Views

1 Reply

370 Views

Traditional IRA rules

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1 Reply 906 Views

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906 Views

How do I document a Roth conversion/recharacterization that may have been incorrectly reported on 2017 tax return?

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1 Reply 509 Views

1 Reply

509 Views

How to roll over 401k to IRA? No option for conversion to IRA. Change will not save. Reverts back to taking distribution and recording as ordinary income.

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7 Replies 1242 Views

7 Replies

1242 Views

Do I need to report 1099-R distributions on my 2017 return when the taxable amount in box 2a is $0?

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1 Reply 417 Views

1 Reply

417 Views

Medicare Wavier Payments Taxable?

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1 Reply 994 Views

1 Reply

994 Views

Can I classify IRA distributions used for first time home purchase in TurboTax?

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2 Replies 698 Views

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698 Views

I have k-1 income and 401(k) contributions above the box 13 code R limit. How do I get the full deduction on line 28 of the 1040?

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11 Replies 1832 Views

11 Replies

1832 Views

1099-ltc payout-in-lieu Reimbursed

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2 Replies 873 Views

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How do I report a Converted IRA - Traditional opened 10 years ago, converted to ROTH in 2018. Haven't received any 1099-R. It’s neither a withdrawal nor contribution!

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10 Replies 1975 Views

10 Replies

1975 Views

Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.

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2 Replies 417 Views

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417 Views

My IRA distr. is code 7, but 100% non-taxable since I rolled the exact amount back within the 60 day period. TT is treating it like a withdrawal of excess contrib. Help?

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2 Replies 504 Views

2 Replies

504 Views

I opened an inherited IRA account just long enough to receive the funds and cash out the account. What are the tax ramifications of doing so?

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8 Replies 1084 Views

8 Replies

1084 Views

How do I enter an IRA Rollover which was fully distributed from one bank and rolled over into a different bank within the 60 day period?

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1 Reply 436 Views

1 Reply

436 Views

Why does Turbo Tax use the higher gross amount rather than the lower taxable amount on my Civil Service 1099R?

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2 Replies 636 Views

2 Replies

636 Views

Wife is retired,I am still working. I'm covered by 401k which I contribute to. Is deductible IRA contribution avail for wife? Married filing jointly, MAGI of $129,903.Tks

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3 Replies 656 Views

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656 Views

I worked in Oregon, but live in Washington State. I had to sell part of my IRA from home in Washington, there for the IRA isn’t subject to Oregon Tax, how do I fix this?

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1 Reply 443 Views

1 Reply

443 Views

How do I indicate that a qualified HSA funding distribution is for the prior year? Where can I check that it is being treated correctly?

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3 Replies 882 Views

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882 Views

If 10 years ago I contributed too much to my ira and subsquesntly removed it, do I answer yes or no in turbotax to "Any excess IRA contributions prior to 2017?"

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1 Reply 441 Views

1 Reply

441 Views

Past 4 years of Roth IRA excess contributions. Thought my account was a traditional IRA and filed taxes with 3 of the 4 taking the deduction. How to handle?

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2 Replies 476 Views

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476 Views

Is a distribution from an inherited IRA considered investment income for purposes of EITC?

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11 Replies 2867 Views

11 Replies

2867 Views

I took money from an IRA in 2018 and I know I pay an early withdrawal penalty. Where can I see that amount in TurboTax?

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1 Reply 363 Views

1 Reply

363 Views

Turbotax claims excess contribution to a non-governmental 457b plan, blocks file. Gave 37000 catch-up contribution for year before retirement to my GOVERMENTAL 457b.

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2 Replies 877 Views

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877 Views

I did not take the RMD's for 2011-2017. I am asking for a waiver on all penalty taxes, due to reasonable error. Do I file these forms with my 1040 for 2018 or separately?

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5 Replies 1181 Views

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1181 Views

Excess 401k contribution 2018, tried to report as Miscellaneous Income but still can't efile

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1 Reply 463 Views

1 Reply

463 Views

"repayment over $3000 per IRS Publication 17, chapter 12 page." wife received LTD and on approval of SSDI in 2018 retroactive in 2017, we had to repay a portion.

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1 Reply 663 Views

1 Reply

663 Views

Roth Excess Contribution in 2018 - Returned in 2019 with taxes withheld. Do I need to report in 2019 AND amend my 2018 returns later?

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3 Replies 1169 Views

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1169 Views

I withdrew money from my E Trade Roth IRA, contributions only, not earnings. However when I put that information into Turbo Tax it cuts my refund in half.

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3 Replies 1994 Views

3 Replies

1994 Views

If the younger spouse has the 401K, does the RMD caluation refer to his birthdate (701/2 year)? Even if filling jointly?

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1 Reply 640 Views

1 Reply

640 Views

I rolled over my wife's (she passed away) TSP funds into my roth IRA. The 1099r. box 1 and 2a are both $65,109. Turbo tax is not considering this as a taxable event.

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3 Replies 686 Views

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686 Views

As a retired individual (66) my income is Social Security and two pensions. Is it possible to annually "recharacterize" a portion of my IRA ($6500) as a Roth IRA?

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2 Replies 491 Views

2 Replies

491 Views

Made contributions to IRA before 4/18/17 for 2016 to an IRA account Bank in Ga. my residency is Ohio. Do I Have to file GA tax return?

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1 Reply 442 Views

1 Reply

442 Views

I transferred money from my "inherited" Tsp, was my wife. I used the option to transfer if to my roth IRA. My 1099-r says I owe no taxes. when do I need to pay taxes?

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8 Replies 1339 Views

8 Replies

1339 Views

Friend took early 401K w/drawal of $10,000 in 9/16. She makes $24,000 before that w/draw. Turbo decreased her fed + state return by $5800. Is that a correct calculation?

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8 Replies 1193 Views

8 Replies

1193 Views

Do I need to report interest earned in an employee provident fund (India) in US Tax Return? It's a retirement pension plan account and I can't withdraw money from it.

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