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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

keeps asking for canadian pension info don't have any

on review asks for canadian pension

How to report RMDs for multiple IRAs that are satisfied from by a single RMD event from one account.

I believe that the RMD requirement can be satisfied for multiple Traditional IRS by taking the distribution from a single account. Because of this one only receives a single 1099-R. How does one use T.T. to report that all the required RMDs have been... read more

what if the amount of distribution received is less than actual value

The amount I received is less than value stated on 1099R How do I amend what I actually received

RMD entry for First Year

Turning 73 this year (2025) I took the required RMDs in 2025 and received the anticipated 1099-R.Within T.T. the instructions read:"Do not include RMDs which are due on April 1. RMDs for the first year you're required to take a distribution are gener... read more

In TurboTax Home & Business under the 1099-R details, Box 15-State drop-down is missing Texas. This is a required field.

Texas may be missing in other drop-downs where it is required.

This is asking who a 403b was inherited from, but it wasn't inherited at all.

How do I tell it it is my 403b?

Should I check "I inherited this IRA" box for RMD from my Traditional IRA coveted from deceased spouse's IRA in 2024?

My understanding was that once I converted my husband's IRA to my name it became my IRA. Research has come up with conflicting answers.

1099-R Pension Income Box1 & 2a not the same

I have a 1099-R for a defined benefit Pension. It has a lower value in the 1099-R Box 2a ("Taxable amount") than is in Box 1 ("Gross distribution"). It is lower by the amount in Box 5 (Employee contrib/desig Roth contributing or insurance premiums").... read more

import of consolidated 1099 into turbo tax deluxe desktop is missing 1099B info

when I import my 1099 into turbo tax deluxe desktop ,I get int and div , but no 1099 B info . I can see 1099 B info in a pdf copy of my consolidated 1099 on my brokers web page .