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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Excess 403b contribution withdrawn immediately but not reported as a corrective districution on 1099-R

1) I have a main job where I regularly max out my 403b contribution each year, including for 2025.2) In 2025 I started a 2nd occasional side job. That employer auto-enrolled me into its 403b and deposited an elective deferral in its 403b plan on my f... read more

How does one check the box on form 1040-SR about your main home was in the U.S. for more than half of 2025?

I am using Do it Yourself Premium online and have answered the address questions within the My Info section. My wife and I lived together at the same address for the entire year. I do not see any questions in the My Info section related to this check... read more

I owe tax of $3.83 for an over-contribution of my Roth IRA in 2024. Do I have to amend my 2024 tax return since it is such a small amount?

I over-contributed to my Roth IRA in 2024 by $85. In 2025, I contacted the investment firm and informed them of the over-contribution, For tax year 2025, I received a 1099-R for the withdrawal of $88.83 ($85 over-contribution, and $3.83 interest). Tu... read more

How can I change the RMD values? Haven't filed the returns yet but don't see a way to alter RMD info.

How can I change the RMD values?

Does termed employment count as an exemption for early withdrawal of retirement?

how can I enter my 1099-Q and not get taxed on the earnings if I used the money for qualified educational expenses?

TurboTax wants to charge me tax, even though the money was used for qualified expenses.

457(b) Plan Excess Contribution

I know this has been addressed in prior questions but I am getting mixed answers. In 2025, I changed jobs and inadvertently made an extra $2,200 contribution into my 457(b) plan. I already corrected the matter by requesting and receiving the $2,200 f... read more

1099R

This is for a inherited NY state retirement system fund which I have a 1099R for. Under box 14 is "Exempt"box 15 is NYbox 16 is a state numberbox 17 is state distribution. I live in WI. Do I enter all of this information? I don't see any way to enter... read more

Confirming "Reverse Rollover" from IRA to 401k to avoid Pro-Rata Rule for future Backdoor Roth

I am looking for a professional check on my plan to "un-clog" my Traditional IRA so I can begin doing Backdoor Roth IRA contributions without triggering the Pro-Rata Rule. Current Situation:I have an IRA at Fidelity with approximately $74,000 in it. ... read more

how to figure out 2025 benefits repaid?

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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!

Excess 403b contribution withdrawn immediately but not reported as a corrective districution on 1099-R

How does one check the box on form 1040-SR about your main home was in the U.S. for more than half of 2025?

I owe tax of $3.83 for an over-contribution of my Roth IRA in 2024. Do I have to amend my 2024 tax return since it is such a small amount?

How can I change the RMD values? Haven't filed the returns yet but don't see a way to alter RMD info.

Does termed employment count as an exemption for early withdrawal of retirement?

how can I enter my 1099-Q and not get taxed on the earnings if I used the money for qualified educational expenses?

457(b) Plan Excess Contribution

1099R

Confirming "Reverse Rollover" from IRA to 401k to avoid Pro-Rata Rule for future Backdoor Roth

how to figure out 2025 benefits repaid?

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