Retirement Tax Tips and Answers | TurboTax® Support

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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Recharacterization and Backdoor Roth Conversion Reporting Question

Hi @DanaB27I've just started a Recharacterization process from my Fidelity Roth IRA account to a Traditional IRA account (opened today just for this purpose) as I've made an excess Roth IRA contribution in 2025 (well above the MAGI limit). I don't ha... read more

Questions Re: Bailey Settlement for NC Employees

Running Premier on Windows 11.As a retired teacher from NC for whom the Bailey Settlement previously applied, my taxable amount for a number of years was different from the gross (box 2a did not match box 1). That was true until 2024, when I noticed ... read more

I entered info from1099-R {my retirement pension}. Why is showing up on Form 1040-SR on line 1h., other income instead of on line 5a., pensions and annuities?

I am using desktop version. Inside TT it is presenting correctly as a pension. but not on form 1040. I am wondering if this is a bug, or is this because my husband and I are both receiving a pension and I am not at my full retirement age and this is ... read more

where do I input our social security benefits?

Sik L. Chow box 3 $22104.00 Shiu L. Lin box 3 $7956.00

I am Retired and dont have an employer. What do i enter in Box b for employer EIN?

Incorrect Calculation of Illinois Taxable Income

am using the Desktop TurboTax 2025. TurboTax incorrectly computes my benefits deduction from my Federal AGI for my Illinois income tax. All Social Security benefits, pension benefits, and IRA/401k are exempt from Illinois Taxation. Federal Income tax... read more

What can I do if Turbotax calculated my Modified adjusted income incorrectly, making me ineligible for IRA deductions?

Reporting of 2024 1st year RMD that is withdrawn Q!, 2025

For the 2025 1099R, Turbotax only wants the amount of the 2025 RMD. How is the 2024 RMD owed and paid reported.

I indicated that I need a substitute 1099-R form

What else I needed?

This answer has been verified for accuracy by an Intuit expert employee Early Traditional IRA Withdrawal

To avoid pro rata rule implications as we started doing backdoor roths in 2025, I withdrew all of a small traditional ira my wife's past job's 403b had converted to. The total amount withdrawn from the trad IRA was $1,030.61.Federal income tax withhe... read more