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Retirement tax questions

Video Guide on Entering Qualified Charitable Distributions (QCDs) for the 2025 Tax Year

If you are aged 70 1/2 or older, a Qualified Charitable Distribution (QCD) offers a powerful way to reduce your taxable income while supporting your favorite charities. A QCD is a transfer of funds made directly from your IRA (excluding active SEP or... read more

Retirement Video Guide 2025: Entering Your Required Minimum Distribution (RMD)

The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year. If you turned 73 in 2024 or earlier, understanding these rules and accurately reporting the income on your 2025 tax return... read more

Traditional IRA vs. ROTH IRA: Which is better?

Which is better depends on your financial goals, income, and tax situation. While nobody can predict future tax laws, we have a fairly good understanding that more income usually means higher tax rates. For tax planning you should consider your curre... read more

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

How do I correct my IRA basis? In 2009, my form 8606 carried forward the wrong amount. And from 2015, I did not file form 8606. How do I fix for TY2025?

Do I need to file a 1040-X to amend every affected return? Or can I simply report the correct basis in my 8606 for TY2025 and attach an explanatory letter?

Is form 5329 for years 2023 and 2024 accessible on TurboTax?

I made excess Roth contributions in 2023 and 2024.

Willi need to file an amended return if filing form 5329 for excess Roth contributions for 2023 and 2024?

This answer has been verified for accuracy by an Intuit expert employee If i received a 1099 SSA from social security do i have to file?

Filling out the 1040-R for retired people.

Does Turbo Tax supports the 1040-SR Income Tax Form?

Update availability

Does anyone know when the 2026 Turbotax section IRAs, 401(k), pension plan withdrawals (1099-R) will be available for windows?

paid upfront cost for retirement community in 2025 but will likely pay an additional upfront cost in 2026. Can both be deducted when itemized?

Upfront payments partially include future medical expenses if need.

what code will appear on line 7 of the 1099

I am over 75 years of age and plan on making a partial conversion of my traditional ira to a roth . What code will be listed on line 7 of the 1099r that I will receive for this transaction