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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

How to enter Room & Board expenses in 1098-T / 1099-Q sections

Turbo Tax is not prompting for room & board expenses in this section (only Book expenses). How do I go about entering, in order to get the proper netting of 1099-Q and total college expenses?

Taxability of NYS inflation relief check

Hi (again), I received a $400 "inflation relief check" in 2025 from New York State. I'm trying to confirm whether or not it is taxable on my Federal return. Google/Gemini implies that it is NOT if you took the standard deduction in 2023(!) but I'd li... read more

TT online did not ask for my wife's Roth IRA contributions which I would like to track. Can I go back somehow to add it in?

The "plan cost" information is not provided by my pension provider (the Wisconsin Retirement System). How do I answer the "Plan cost" question?

I had 38 years in the system and retired 5 years ago.

You offer 5 blocks to respond - 1099-INT, 1099-DIV, 1099-B, etc but no 1099-R for my ira distribution.

My 2025 1099-Q form shows a $19000 distribution from my 529 account. How do I show on 1040 form that it was for a transfer directly into my granddaughter’s ABLE account?

The 1040 form shows it as a Gross distribution to me, not to my beneficiary disabled college student granddaughter.

Merrill Lynch does not show up as an option to directly download my 1099

Why is TT routing me to a Canadian Pension screen?

Filing my taxes and when TT goes to "review" and finishes, I have an error to review. When I review, it takes me to a Canadian Pension screen. I have no ties or anything to Canada.

I did all the steps for backdoor roth and my 8606 form shows correctly but the form says (not done). I tried deleting the 1099-r and still the same thing.

Mandatory Minimum Distribution 1099R

After entering the information from a 1099R for a Mandatory Minimum Distribution, Turbo Tax asks if certain situations apply. One situation asks: "This is for a SIMPLE IRA with more than two years of participation" What is meant by "participation"? W... read more