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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Would I qualify for the the 10% tax exception if I was terminated from my job at age 54?

How to submit a 1099-R for Military Retirement pay from DFAS? Option not provided on list - DFAS is not OPM, Railroad, nor a financial institution.

I’m having trouble with 1099R a saying I’m putting in the wrong amount and it’s not accepting

How can you help me??

Is the Annuity State date only for the tax year?

How can I enter government pension in China

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

How does Turbo Tax calculate the maximum amount that can be contributed to a SEP IRA? Can excess contributions be designated for a subsequent tax year?

Enter the total value of all of your traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2025. This information is sent by mail on Form 5498.

This is a question in Turbotax but it does not tell me which box in form 5498 to enter for each - Outstanding recharacterizations, Outstanding rollovers, Outstanding recharacterizations. This question is not clear how to answer. There are tons of box... read more

What do I need to do with my social security tips. It asked me what job I do but I don’t see pizza maker and delivery driver?

When box 19 on a 1099-R for MD state pickup contributions is less than the taxable amount in box 2a on the 1099-R, which amount is taken as the MD subtraction?

Turbo Tax is taking the higher taxable amount as the MD subtraction, but I think it should be whichever is less per all the MD Form 502 instructions I'm seeing. (The pickup contributions are running out.) If so, how do I correct it?

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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!

Would I qualify for the the 10% tax exception if I was terminated from my job at age 54?

How to submit a 1099-R for Military Retirement pay from DFAS? Option not provided on list - DFAS is not OPM, Railroad, nor a financial institution.

I’m having trouble with 1099R a saying I’m putting in the wrong amount and it’s not accepting

Is the Annuity State date only for the tax year?

How can I enter government pension in China

Incorrect Calculation of Illinois Taxable Income

How does Turbo Tax calculate the maximum amount that can be contributed to a SEP IRA? Can excess contributions be designated for a subsequent tax year?

Enter the total value of all of your traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2025. This information is sent by mail on Form 5498.

What do I need to do with my social security tips. It asked me what job I do but I don’t see pizza maker and delivery driver?

When box 19 on a 1099-R for MD state pickup contributions is less than the taxable amount in box 2a on the 1099-R, which amount is taken as the MD subtraction?

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