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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

I need to enter 2 ssa-1099 but the system will not let me

there is no where to enter a second person ssa

Why is the accuracy check asking me to review a Canadian Pension form that I don't have any have not entered?

Box 10a and 10b are blank on my 1099-G but box 11 has an amount. I did pay state taxes to Michigan throughout the unemployment benefit period. What should I put here?

Obviously box 10a should be Michigan, but what number goes in 10b for state identification number?

Hi all - first time doing backdoor Roth this year. My Vanguard 1099-R has Box 2a the same as Box 1. Why is it being taxed on Line 4b of my 1040?

Box 1 - $7000.73 Box 2a - $7000.73 Box 2b Taxable Amount Not Determined Checked Total Distribution Checked Box 7 Distribution code 2, IRA/SEP/SIMPLE

Will not let take me to section to input 1099SA distribution

For 1099-Q, TurboTax says "You can also use these funds for K–12 expenses; up to $10,000 per student, for tax year 2025" but isn't it still taxable in NY State?

why is TurboTax not auto checking the box labeled 'Check here if your main home, and your spouse's if filing jointly, was in the U.S. for more than half of 2025'

All information requested in My info section is correct.

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.

When asked if the total amount shown in the form the amount you paid tax on? Are they talking about Gross Distribution in Block 1 or Taxable Amount in Block 2?

I am entering then 1099R for the OPM annuity that I receive for my civil service retiremnet. Portion of my annunity is not taxable based on my contributions to the CSRS Is the taxable amount method General rule or Simplified method?

We had to cash in an IRA in order to pay for a major household applicance. Can I show part of this as RMD being paid?

Owner of this IRA turned 73 in the year we cashed it in, can we or do we pay an RMD for this distribution?

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Featured Topics

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

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

Traditional IRA vs. ROTH IRA: Which is better?

Retirement Plans: Taxing Distributions!

Retirement Plans: Tax Savings Galore!

I need to enter 2 ssa-1099 but the system will not let me

Why is the accuracy check asking me to review a Canadian Pension form that I don't have any have not entered?

Box 10a and 10b are blank on my 1099-G but box 11 has an amount. I did pay state taxes to Michigan throughout the unemployment benefit period. What should I put here?

Hi all - first time doing backdoor Roth this year. My Vanguard 1099-R has Box 2a the same as Box 1. Why is it being taxed on Line 4b of my 1040?

Will not let take me to section to input 1099SA distribution

For 1099-Q, TurboTax says "You can also use these funds for K–12 expenses; up to $10,000 per student, for tax year 2025" but isn't it still taxable in NY State?

why is TurboTax not auto checking the box labeled 'Check here if your main home, and your spouse's if filing jointly, was in the U.S. for more than half of 2025'

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

When asked if the total amount shown in the form the amount you paid tax on? Are they talking about Gross Distribution in Block 1 or Taxable Amount in Block 2?

We had to cash in an IRA in order to pay for a major household applicance. Can I show part of this as RMD being paid?

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