Retirement Tax Tips and Answers | TurboTax® Support

Retirement tax questions

Retirement Plans: Taxing Distributions!

Is it time to retire? You’ve worked your whole life - setting aside some of your hard-earned dollars to ensure a comfortable retirement. Now it’s time to reap the benefits of your savings! Know your options and gather the knowledge to reduce taxes, e... read more

Retirement Plans: Tax Savings Galore!

The best place to begin your retirement tax savings is with expert knowledge! You’ll find that in the The Golden Years Guide to Tax-Free Retirement, which is filled with great tips from financial experts in-the-know. Most people are familiar with a 4... read more

Need Help with Addressing Excess IRA Contributions for Tax Year 2024

Hello all, I have filed my returns for 2024 and this is the first time I was alerted by the Turbotax software that my contributions to my Roth IRA for 2024 are considered excess. This occurred because a conversion for my 401k to Roth 401k significant... read more

Where do I put my husband’s social security retirement benefits for filing jointly?

We always file jointly. I have you all my personal information and my w-2 info and 1099-R , but you didn’t ask for Fred’s 1099-R information on his Social security retirement benefits. What’s with that???

Earning and Loss Calculation for Recharacterization

Dear TurboTax, I over-contributed $7000 to ROTH IRA in 2024 because my income went up. I want to recharacterize that $7000 and I filed extension to get this done now. Brokerage A does not provide earn/loss calculation so I would really appreciate if ... read more

Married filing jointly & both qualify for Georgia's retirement income exclusion but only one of us is retired. Why does our refund reduce when we enter the exclusion?

If I tell the app to remove the exclusion which is supposedly a tax break, our refund amount increases. Why? Can we elect to not take the deduction since it seems to provide a greater refund?

TurboTax incorrectly showing penalty for my backdoor Roth IRA

Hello, I see that this question was asked before and marked as solved but the expert instructions to follow are different from what I am seeing (Turbotax premier). I am a high income earner whose income is above the Roth limit. I put $8000 (50+ in ag... read more

Does Turbo Tax account for the Virginia Military Retirement Income change for 2022? It is reduced on first $10,000 for retirees over 55.

Does Turbo Tax account for the Virginia Military Retirement Income change for 2024? It is reduced on first $30,000 for military retirees. The age requirement was dropped. Where do I do this in Turbo Tax.

This answer has been verified for accuracy by an Intuit expert employee Can my Brazilian wife get a social security number? If not how to get ITIN fast? We are currently in Northern Brazil If she can get SS number from Brazil please explain

Whats the fastest and easiest way to get either SS or ITIN number fast and free

How do I answer the question "What kind of retirement income do you have from Pennsylvania?" Box 7 has code 4

Hello, I received a TSP distribution in 2024 from the death of an older sibling. I am working on the PA state taxes and TurboTax is asking “What kind of retirement income do you have from Pennsylvania?”. Box 7 of my 1099-R has code 4. How do I answer... read more

as Trustee (trust owned by my adult sons) for which management is my responsibility; being paid for that management, can I include such enumeration under regular income?

reporting solo 401k contribution

Hi. My CPA told me that he encountered an error when filing my Solo 401(k) contributions on my tax return. We planned to report $26,000 in voluntary after‑tax contributions and $8,000 in employer Roth contributions, but the $8,000 employer contributi... read more