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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Why are you asking me for a w2 when I am retired?

Not needed?

Can I claim my SSA social security disability and widows survivor benefit from social security government

"For the years you received these distributions, was the total amount shown in the form the amount you paid tax on?" Re: pension yes for taxable amt is that what Q means?

The question is confusing b/c it asks if you paid tax on the "total" amount. If you pay taxes on the "taxable" amount, isn't the answer to the question = "yes"? (But of course the "gross" amt is higher.) Why is this question being asked?

1099 CPT Intern

International student Tax Return 1099 Intern

When I convert 10K from my traditional non-deductible IRA to My Roth IRA in my Fidelity accounts, Turbotax saying I am over the limit of $7,000. ?

I thought this type conversion is called backdoor conversion within two IRA accounts and should have no limit; but need to pay tax only?

Does Form 1116 Line 18 calculate correctly? The IRS instructions allow adjustments to be made for qualified dividends yet the system does not appear to do this. Thoughts?

We have the sale of a primary home and have a 1099-S. When entering the details from the 1099-S turboxtax doesn't appear to calculate the $500K cap gains exemption.

1099R In-plan roth conversion in 2025 Form 1040 Line 5

In 2025 the Form 1040 added information in Line 5.My retirement plan does an After-Tax In-Plan ROTH Conversions and I get a 1099-R with this conversion.I entered the information from my 1099-R and it maps corectly to Line 5a.But, should Line 5c box 1... read more

Can I get a waiver of penalty if my Roth conversion was late in the year and couldn’t figure the tax in time?

Roth conversion in December

1099- survivor benefits

If I received a 1099 survivor benefit that my daughter receives from her deceased father(deposited into my bank account). Box 2 has her social security number in it and Box 7 says "my name" for "minor daughter's name", do I report that on MY taxes?Sh... read more