Retirement tax questions


@G-B wrote:

The question becomes a review loop if answered. The program is flawed because if you are 71 1/2 and still working (even 1 day a week is sufficient), you do not have to take anything out, but this program assumes that if you are over that age, you’re retired (not working at all). Was a real pain.


Depends - if you are working for an employer and do not have at least a 5% interest in the company then you do not have to take RMD's from that employers 401(k) plan.   That does not apply to IRA's or other pension plans.   If you qualify then simply answer the question that a RMD is not required.

 

I do not see a problem or issue with TurboTax.   What is the problem?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**