Retirement Tax Tips and Answers | TurboTax® Support

What is the formula Turbotax uses to calculate the Effective tax rate shown on the cover sheet?

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24 Replies 10062 Views

24 Replies

10062 Views

Earning and Loss Calculation for Recharacterization

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3 Replies 3417 Views

3 Replies

3417 Views

How do I enter 1099-R Massachusetts state retirement pension which is exempt from state taxes?

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7 Replies 5403 Views

7 Replies

5403 Views

PA early withdrawal 401k what to choose and how to determine basis

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3 Replies 1483 Views

3 Replies

1483 Views

How do I change this? I've followed instructions for back-door roth. Line 4b of the 1040 should be $0, but it kept showing $7,000 as taxable amount.

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10 Replies 1765 Views

10 Replies

1765 Views

How do I get the full deduction for Louisiana START contributions for MFJ? TurboTax limits to $2400 per beneficiary when it's really $4800 per beneficiary for MFJ.

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7 Replies 898 Views

7 Replies

898 Views

FORM 4852 (substitute for Form 1099-R), where is Form IT 1099-R?

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1 Reply 381 Views

1 Reply

381 Views

I received a Schedule K-1 for an investment in an IRA account. Should a Schedule K-1 been issued for an investment in an IRA account?

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41 Replies 78944 Views

41 Replies

78944 Views

I'm a NJ tax filer and received a W-2 for a nonqualified plan distribution, some of which is taxed in NJ (line 20a) or excluded (line 20b). How do I enter in Turbotax?

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6 Replies 2584 Views

6 Replies

2584 Views

How do you populate Form 5329 line 6 for taxable amounts related to a tax-free scholarship in TurboTax for distributions not subject to the 10% penalty?

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3 Replies 213 Views

3 Replies

213 Views

Box 7 on a 1099-R is blank. No code! Northern Trust says there should NOT be a code. TurboTax says it needs a code. What now?

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7 Replies 2754 Views

7 Replies

2754 Views

Does Form 1116 Line 18 calculate correctly? The IRS instructions allow adjustments to be made for qualified dividends yet the system does not appear to do this. Thoughts?

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30 Replies 4013 Views

30 Replies

4013 Views

IRA back door pro data

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8 Replies 1283 Views

8 Replies

1283 Views

1099 R minimum distribution is showing a penalty when I took the correct RMD

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2 Replies 410 Views

2 Replies

410 Views

Massachusetts Taxable IRA distributions

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49 Replies 47853 Views

49 Replies

47853 Views

Do I need to claim inherited HSA distribution on my taxes? If so, how should I respond to TurboTax online prompts to correctly claim this income?

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4 Replies 1477 Views

4 Replies

1477 Views

How can I get a copy of my 1099-R from State Street Retiree Services for Qwest Communications International, Inc?

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19 Replies 45876 Views

19 Replies

45876 Views

Mega backdoor 1099R has H and G, it shows as total by adding both, wrong?

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1 Reply 253 Views

1 Reply

253 Views

I have two different 1099-R forms from the same investment company. What should I do?

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3 Replies 1374 Views

3 Replies

1374 Views

RMD taken correctly, but penalty assessed

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63 Replies 3955 Views

63 Replies

3955 Views

Husband is retired NYPD. We don't live in NYC and form NYC1127 is saying we owe over $1200. We never paid this when he was employed. Did I do something wrong?

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4 Replies 1945 Views

4 Replies

1945 Views

Entering RMDs for inherited roth IRAs

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1 Reply 965 Views

1 Reply

965 Views

How to report Backdoor IRA contribution?

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5 Replies 1213 Views

5 Replies

1213 Views

1099-R doesn't differentiate contributions and earnings

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1 Reply 1203 Views

1 Reply

1203 Views

Where do i report a 1099 o the form?

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3 Replies 265 Views

3 Replies

265 Views

Backdoor Roth IRA conversion not working

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5 Replies 1279 Views

5 Replies

1279 Views

MA Tax-exempt pension

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25 Replies 7002 Views

25 Replies

7002 Views

"Allowable elective deferrals" on Keogh, SEP and SIMPLE Contribution Worksheet

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10 Replies 1611 Views

10 Replies

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I deleted the form 6252 and it still shows up during the "check portion" before I e-file

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3 Replies 885 Views

3 Replies

885 Views

TurboTax Online: where are other withholdings?

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7 Replies 1879 Views

7 Replies

1879 Views

Taxing on Monthly Pension Payments

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4 Replies 1310 Views

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1310 Views

I got a message from Turbo tax that due to an error in your software i am not getting the $20,000 pension exclusion. how can this be corrected?

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4 Replies 293 Views

4 Replies

293 Views

Form 1116 does not result in full Foreign tax credit

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5 Replies 2519 Views

5 Replies

2519 Views

My 1099-B has Federal Income Tax Withheld. Where do I list it?

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8 Replies 7278 Views

8 Replies

7278 Views

How do I report an IRA distribution from Puerto Rico if I am a not a resident of the Island. I am however a US Citizen residing full time in USA?

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4 Replies 386 Views

4 Replies

386 Views

Amended 2023 resulting in excess Roth per form 5329

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3 Replies 570 Views

3 Replies

570 Views

Do i need to attach a 1099r form to my state return or my federal return

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6 Replies 12731 Views

6 Replies

12731 Views

direct rollover from one eligible account to anothre

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1 Reply 763 Views

1 Reply

763 Views

Why does turbo tax say I owe PA state tax on a post tax 401K distribution?

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2 Replies 521 Views

2 Replies

521 Views

1099-R state tax witholding box 14

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1 Reply 213 Views

1 Reply

213 Views

2024 Backdoor Roth Conversion impacting fed

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2 Replies 4741 Views

2 Replies

4741 Views

Had two jobs but one W2 since employers used a PEO. Had too much social security withheld. TT won't let me amend Line 11/Sched3 since it thinks it's one job. How to fix?

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78 Replies 11100 Views

78 Replies

11100 Views

IRS calculates taxable Social Security benefits differently from TurboTax

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23 Replies 45197 Views

23 Replies

45197 Views

How do you enter a retired clergy housing allowance?

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9 Replies 2169 Views

9 Replies

2169 Views

Can't finish my e-filing because it states "NYS withholding can not be greater than or equal to gross distribution or state distribution" My line 14a is less than gross

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3 Replies 1018 Views

3 Replies

1018 Views

pension, how to access the simplification worksheet online

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1 Reply 383 Views

1 Reply

383 Views

PRIVATE Pension Showing as a Deduction in Missouri

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4 Replies 881 Views

4 Replies

881 Views

TurboTax doesn't seem to calculate my Roth IRA Contribution Limit correctly

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8 Replies 2099 Views

8 Replies

2099 Views

ACI amount

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1 Reply 188 Views

1 Reply

188 Views

GAINS AND LOSSES

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1 Reply 100 Views

1 Reply

100 Views

"Enter Prior Year Roth IRA Contributions" seems to auto-include mega backdoor roth (rollover) amounts. Is that right or wrong?

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3 Replies 2626 Views

3 Replies

2626 Views

2024 Taxes on Inherited Traditional IRA RMD distribution not being calculated in Turbo tax

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3 Replies 1079 Views

3 Replies

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how does Ttax figure tax on social security - interest and dividends?

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2 Replies 1848 Views

2 Replies

1848 Views

Form 8606 prior year basis

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5 Replies 1224 Views

5 Replies

1224 Views

Excess contribution to IRA in DEC 24 and took out the money in FEB 25.

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3 Replies 548 Views

3 Replies

548 Views

One of our 1099-R forms has both my name and my husband’s name as recipients. How do I enter It on TT?

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5 Replies 1448 Views

5 Replies

1448 Views

Nonqualified Pension Plan i.e., an Amount in Box 11

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7 Replies 999 Views

7 Replies

999 Views

Excess 401K ROTH contribution

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10 Replies 2274 Views

10 Replies

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Social security line 6b

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2 Replies 431 Views

2 Replies

431 Views

Turbotax incorrectly include Roth IRA conversion into NJ taxable income

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4 Replies 2178 Views

4 Replies

2178 Views

1099-R Distribution to be used as startup cost for setting up a Farm Business

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1 Reply 2801 Views

1 Reply

2801 Views

How do I enter retirement income from another country when I don't have an EIN?

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11 Replies 5030 Views

11 Replies

5030 Views

I recharacterized to roth IRA. 1099-R has dist code 2 in box 7. upon importing the form, TurboxTax says this sum is tax exempt. But this sum gets included as income. Why?

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6 Replies 2545 Views

6 Replies

2545 Views

How enter an RMD for an account where no 1099-R was received as distribution was taken from another account

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8 Replies 2090 Views

8 Replies

2090 Views

Rollover and Pretax payments.

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6 Replies 2196 Views

6 Replies

2196 Views

Excess 401k Contribution and rolled over to IRA account

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3 Replies 1116 Views

3 Replies

1116 Views

Online fix for the 1099 R issue for inherited NQ stretch distributions

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0 Replies 269 Views

0 Replies

269 Views

Missouri nontaxable retirement income for public school teachers

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3 Replies 1858 Views

3 Replies

1858 Views

Entering 1099R from OPM. After I'm done it says, "Needs Review" and my "Enter Health Insurance Amount from Box 5" is always back to $0. Even I enter an amount there. Why

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14 Replies 3120 Views

14 Replies

3120 Views

Cash In Lieu Sales Not Reported in 1099-B - What type of term type to use (uncovered, not recd, unknown)

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2 Replies 851 Views

2 Replies

851 Views

Traditional IRA to backdoor Roth IRA conversion reported as taxable income

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4 Replies 3608 Views

4 Replies

3608 Views

How to correct the 8606 which turbotax did incorrectly?

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11 Replies 715 Views

11 Replies

715 Views

Roll excess 529 contribution to another account

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5 Replies 1433 Views

5 Replies

1433 Views

Check this entry error received upon final review. Error states "Form 1099-B Worksheet (TD Ameritrade) Sales Price is not between prescribed upper & lower limits?

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17 Replies 5947 Views

17 Replies

5947 Views

Turbotax for 2024 tax return -- calculating 2024 RMD with a mistake

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0 Replies 932 Views

0 Replies

932 Views

I get retirement pay from the military and have a 1099-R but the program acts like I withdrew money early. Also not sure if qualified or non qualified plan

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2 Replies 3834 Views

2 Replies

3834 Views

Where do I enter the tax paid on Rmd

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5 Replies 1067 Views

5 Replies

1067 Views

PA Form 1099-R, where do you mail it, when you file online

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1 Reply 240 Views

1 Reply

240 Views

Why am I getting taxed on traditional IRA with only backdoor contributions?

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1 Reply 7860 Views

1 Reply

7860 Views

2024 1099-R non qualified distribution glitch

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1 Reply 889 Views

1 Reply

889 Views

Turbotax Online 2023 Backdoor Roth contribution made in 2024 appearing as taxable in my 2024 return. Help!!

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2 Replies 2095 Views

2 Replies

2095 Views

401K and ROTH early withdrawal New York State

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1 Reply 881 Views

1 Reply

881 Views

2023/2024 Backdoor Roth Contribution

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2 Replies 618 Views

2 Replies

618 Views

Roth IRA Withdrawl of contributions - NJ State Tax Question

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2 Replies 894 Views

2 Replies

894 Views

How do I report additional tax on excess accumulation in qualified retirement plans? (Didn't take RMD from IRA)

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8 Replies 1274 Views

8 Replies

1274 Views

Backdoor Roth IRA

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4 Replies 306 Views

4 Replies

306 Views

2024 New York taxes not applying the 20% tax credit for Long Term Care Premiums

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1 Reply 1276 Views

1 Reply

1276 Views

Overcontribution 401k in 2023, 1099-R reported in 2024, amend 2023 tax return?

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3 Replies 1325 Views

3 Replies

1325 Views

maryland military retirement income exclusion not showing?

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1 Reply 422 Views

1 Reply

422 Views

1099R state tax withheld not showing up on my TurboTax return.

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1 Reply 709 Views

1 Reply

709 Views

Catch-Up Contributions to 403(b) in 2024

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2 Replies 1600 Views

2 Replies

1600 Views

Am I supposed to enter the "Fair Market Value of Account" listed on the Form 5498 in Turbotax where it asks for total value of all IRA's?

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3 Replies 630 Views

3 Replies

630 Views

Where can I find carryover? Can it be zero?

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1 Reply 1317 Views

1 Reply

1317 Views

Entering Social Security information

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1 Reply 200 Views

1 Reply

200 Views

Bug report: Incorrect calculation of taxable IRA distribution for Roth conversion

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0 Replies 2968 Views

0 Replies

2968 Views

Does military retirement pay count as a qualified plan?

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5 Replies 9279 Views

5 Replies

9279 Views

spousal ira zero deduction

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4 Replies 966 Views

4 Replies

966 Views

Why am I being asked to "Enter Prior Year Roth IRA Contributions". I have been retired over 15 years and haven't made a contribution since there. I have no records.

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11 Replies 9971 Views

11 Replies

9971 Views

Is a 1099-R the same thing as a W-2?

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5 Replies 9229 Views

5 Replies

9229 Views

My wife and I are subject to IRMAA adjustments in addition to the regular Medicare premiums. Are these adjustments deductible?

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10 Replies 3497 Views

10 Replies

3497 Views

I did not take RMD this year, ho3wever it continues to show up as income in Turbo Tax. When hit "review" i cannot see RMD so cannot delete

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3 Replies 224 Views

3 Replies

224 Views

Roth 401(k) to Roth 401(k) Rollover

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2 Replies 984 Views

2 Replies

984 Views

SEP IRA contribution is not lowering my net income?

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4 Replies 950 Views

4 Replies

950 Views

10% Penalty on Corrective Distribution from Roth IRA

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6 Replies 3741 Views

6 Replies

3741 Views

How should I report a cash liquidation distribution when no 1099-B is reported to the IRS?

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7 Replies 3746 Views

7 Replies

3746 Views

I did a 401k rollover to an IRA and TurboTax is showing it as income. Is that accurate?

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13 Replies 10368 Views

13 Replies

10368 Views

HSA tax year correction

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4 Replies 1005 Views

4 Replies

1005 Views

1. 1099-R (PJ), amendment needed? 2. Check This Entry: IRA Contributions Worksheet: Line 7 - Excess traditional IRA contribution credit

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1 Reply 2702 Views

1 Reply

2702 Views

I sold mutual funds in India. How do I reflect that in TurboTax as I dont have a 1099-B. TurboTax keeps saying that I need to send a copy of 1099-B to IRS ?

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8 Replies 1150 Views

8 Replies

1150 Views

I have made 26000 in nondeductible ira contributions. Last form 8606 form 1999 only shows total basis of 2000 as do all prior 8606. How do I show correct total basis?

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4 Replies 1042 Views

4 Replies

1042 Views

Reporting canadian social security benefits

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25 Replies 11980 Views

25 Replies

11980 Views

Partial Roth conversion of IRA distribution

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5 Replies 2858 Views

5 Replies

2858 Views

TT not ready for 1099-R?

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1 Reply 1605 Views

1 Reply

1605 Views

Social Security

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7 Replies 1792 Views

7 Replies

1792 Views

IRA distribution listed incorrectly as inherited on my tax form

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1 Reply 350 Views

1 Reply

350 Views

What does this mean: Were Any Roth IRAs Open?

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3 Replies 3495 Views

3 Replies

3495 Views

Qualified Distribution- Birth

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1 Reply 902 Views

1 Reply

902 Views

After-Tax 401(k) Rolled to Traditional IRA then Converted to Roth

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3 Replies 5183 Views

3 Replies

5183 Views

Should turbotax not let me e-file when my 1099-r from vanguard and fidelity have amt in 14 (state tax withheld) but not 16 (state distribution)? can this be fixed?

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5 Replies 502 Views

5 Replies

502 Views

Medicare Deduction from Soc Sec

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5 Replies 5465 Views

5 Replies

5465 Views

Help: Multiple 1099-R forms and need help with "Tell us the value of your Traditional IRA" page

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3 Replies 6419 Views

3 Replies

6419 Views

PA 401k tax

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1 Reply 324 Views

1 Reply

324 Views

Add/Edit Investments and Savings

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3 Replies 1964 Views

3 Replies

1964 Views

How would you like to upload your 1099-INT?

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1 Reply 435 Views

1 Reply

435 Views

I have two entries for box 12, one says D 20 and another says D. Do I need to enter both amounts in Turbotax and if so how?

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15 Replies 7732 Views

15 Replies

7732 Views

Are company pension plans subject to RMD?

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20 Replies 23584 Views

20 Replies

23584 Views

I received a distribution of my equity interest in an LLC. I did not receive a K1 or a 1099 form for this distribution. Where do i record the LT capital gain?

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7 Replies 1118 Views

7 Replies

1118 Views

Backdoor Roth "conversion" on money already contributed directly to Roth IRA

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15 Replies 23771 Views

15 Replies

23771 Views

2024 Excess Contributions Backdoor Roth (I Had Zero Earned Income)

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0 Replies 32501 Views

0 Replies

32501 Views

To calculate my MAGI, do i need to add 401k contributions back into my AGI?

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5 Replies 15549 Views

5 Replies

15549 Views

Are social security benefits taxable for US citizens living abroad?

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9 Replies 6739 Views

9 Replies

6739 Views

Form 5329 (Ineligible Roth)

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7 Replies 8212 Views

7 Replies

8212 Views

Where do I enter a bank interest penalty for early withdrawal of savings? Can I just deduct this penalty from my interest earned from same bank?

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8 Replies 2160 Views

8 Replies

2160 Views

Can i reduce my taxable pension by cost of the medical insurance being deducted from my paychecks?

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17 Replies 7867 Views

17 Replies

7867 Views

How can I make a copy of tax return without social security number printed

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9 Replies 12691 Views

9 Replies

12691 Views

While reviewing my 1040 form, line 25c shows federal income tax withheld from "other forms". I cannot figure out where this came from. Please help.

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18 Replies 18152 Views

18 Replies

18152 Views

How to enter a back-door Roth with a balance already in the IRA

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4 Replies 95254 Views

4 Replies

95254 Views

After tax 401k in plan conversion to Roth 401K

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0 Replies 13209 Views

0 Replies

13209 Views

Form 8959 and 1040 show different W2 amounts - employer overwithheld medicare tax

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3 Replies 1549 Views

3 Replies

1549 Views

Filing form 8086 for 2022 during 2023 tax year

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4 Replies 3375 Views

4 Replies

3375 Views

I'm entering my 11-character Document ID into the field, but I keep getting error message "Please enter the 11-character Document ID without spaces from your Form 1099?

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3 Replies 872 Views

3 Replies

872 Views

For Roth Conversion handling by Alabama, The TT screen "Some or All of Your Distribution is Taxable" has two boxes with a big "OR" in between. Why does TT fill both?

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16 Replies 3538 Views

16 Replies

3538 Views

Do we need to report on our taxes that we moved our IRA money from mutual funds to gold in 2022?

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6 Replies 1013 Views

6 Replies

1013 Views

Roth

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1 Reply 4736 Views

1 Reply

4736 Views

I cannot find my 1099-R or it was not sent. Can I input information another way?

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1 Reply 490 Views

1 Reply

490 Views

Canadian LIRA

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1 Reply 373 Views

1 Reply

373 Views

Where do I enter nontaxable income like VA disability pension?

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5 Replies 1262 Views

5 Replies

1262 Views

Gross Distribution on 1099R for Tranditional IRA to Roth IRA Conversion

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1 Reply 8051 Views

1 Reply

8051 Views

Lump sum distribution from inherited IRA not reflected on 1099-R

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6 Replies 4541 Views

6 Replies

4541 Views

My income is received via a 1098-T (grad student stipend). I contributed to Roth IRA and Turbotax is saying I owe penalty because contribution exceeds income (it doesn't)

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8 Replies 1338 Views

8 Replies

1338 Views

Do you have a TurboTax Online account?

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