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I am learning and trying understand your math: $48350; subtract single filer deduction of $15,750; subtract HSA contribution of $5,300 = $27,300   $27,300 is your AGI. Is the MAGI what should be used? If so, is your MAGI $48,350?

Distributions from a Roth IRA that is less than 5 years old are subject to specific IRS rules that determine whether the withdrawal is tax-free or taxable, depending on the amount withdrawn and the type of funds being distributed. IRS Rules for Roth IRA Distributions The IRS has an established order for how withdrawals from a Roth IRA are taxed: Contributions: Withdrawn first in all cases. Always tax-free because contributions are made with after-tax dollars. Converted or Rolled-Over Funds: Withdrawn next, after contributions. Also tax-free because taxes were already paid at the time of conversion or rollover. Earnings: Withdrawn last. If the Roth IRA is less than 5 years old or the distribution does not meet IRS criteria for a "qualified distribution," earnings are taxable as ordinary income. Taxation Depending on Full or Partial Distribution Full Distribution: Contributions and converted/rolled-over funds are not taxed, regardless of the account being less than 5 years old. Earnings made from those funds are taxed as they are considered a "non-qualified distribution" for Roth IRAs less than 5 years old unless specific exceptions apply, such as using the earnings for first-time home purchases (up to $10,000). Since you are over the age of 59½, no 10% early withdrawal penalty applies to the earnings, even though they are subject to taxation. Partial Distribution: Contributions are withdrawn first and are tax-free; next, converted or rolled-over funds are also tax-free. If your withdrawal amount does not exceed your contributions and converted/rolled-over funds, the distribution is completely tax-free. If your withdrawal reaches the earnings portion, those distributed earnings will be taxable. Your taxable amount will be reported on Box 2 of Form 1099-R. For more detailed information on these rules, visit: Roth IRA Withdrawal Rules and Penalties. By understanding the IRS rules for how Roth IRA distributions are taxed, you can better manage your withdrawals to minimize taxes.   @user17610862872  Thanks for the question! **Say “Thanks” by clicking the thumb icon in the post **Mark the post that answers your questions by clicking on “Mark as Best Answer”  

@scottvf wrote: There is no reason to end support on windows 10 just because microsoft stopped support... They don't have to give us a reason, rational or otherwise; they can just do it.   The fact is that we won't really know for certain whether the products will install and run on Windows 10 until they are released (and some folks actually give it a shot). Officially, Windows 10 is not supported, but that does not necessarily mean the products will absolutely not run on that OS.

Yes.  Are you switching from the Desktop program?  You may have to upgrade to a higher version in Online to enter some things.  But Online has all the forms like the Desktop program  (but you can't see the actual forms) .  You should be able to enter  W2 and 1099R forms even in the Online Free Edition or you might need Deluxe.  

There are several rules regarding how much can contribute to a Roth IRA, and one of those rules is that the contribution amount is limited to your "earned income".  As you are retired, and your current income comes from a pension, you would not be eligible to contribute to a Roth IRA, as pension income is not considered earned income.  Earned income with respect to IRA contributions would be defined as income from a W2 job or from being self-employed.

The taxes on your distribution are calculated based on the Roth IRA Distribution Ordering Rules: Contributions (always tax-free and penalty-free) Conversions (taxable portion may be subject to penalty if under 59½ or <5 years) Earnings (taxable and possibly penalized if not a qualified distribution)   Conversions: Each Roth conversion has its own 5-year penalty clock. If you were under 59½, you would pay a 10% penalty on any conversion principal withdrawn before its specific 5-year anniversary. Since you are over 59½, that penalty is waived.   Earnings:  To have a Qualified Distribution (tax- and penalty-free earnings), you must meet BOTH of these criteria: Be age 59½ or older AND Have met the 5-year holding period (The 5-year clock for your first contribution must have passed). Since you meet the age requirement but not the 5-year holding requirement, the earnings portion is considered a Non-Qualified Distribution, making the earnings taxable as ordinary income. However, since you are over age 59½, the 10% penalty on those earnings is waived.   Use IRS Form 8606 to report Roth IRA distributions and track taxable portions. @user17610862872 Thanks for the question.            

Thanks for your input. I do use the step by step but often click over to see where there is an error as annotated by a "not finished" on the list of forms.   I'll check to see what I have included and see if that corrects it.     Thanks. Vicki Bucy

There is no reason to end support on windows 10 just because microsoft stopped support. I've been using turbo tax on windows 10 without any support for over 5 years. I've been using windows 10 and never updated it for over 5 years so it's like windows 10 support ended for me over 5 years ago and was using tt for that time without any problem!

No, they both do not have be on the title to be eligible for the capital gain exclusion when the primary home is sold.   If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years). Gain or Loss = Sales Price minus Sales Expenses minus Adjusted Basis (Purchase Price plus the cost of improvements prior to the sale) Selling cost can include escrow fees, legal fees, real estate agent commissions, advertising costs, and even home staging fees. If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported.

not sure I was clear on this - will break it down into 2 questions:   1. Am I correct that I can have income in the amount of $69,400 (cap gains limit of $48350 + single filer deduction of $15,750 + HSA contribution of $5,300 (am over 55), and by keeping income below the $69,400, I will have 0% capital gains tax, 0% Dividends tax, and 12% income tax?