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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

WHERE IS YOUR DISTRIUTION FROM. WHAT DO SELECT FOR VANGUARD IRA AS NONE FIT AS ALL RELATE TO PUBLIC SOURCES AND NONE OF ABOVE IS FOR DEFERRED COMP PLANS.

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

Extra tax on RMD

I have one IRA. I entered my 2025 RMD, the exact amount required and TT added 10% additional tax. Will IRS refund the overpayment or will I have to amend the return to recover TT's error.

Turbo tax is asking me enter the name for a Canadian registered retirement savings plan or registered retirement income fund. How can I delete this?

I don't participate in either of these.

If I inherited a non-spouse Roth IRA that was opened in 2004 why is Turbo Tax asking me WHEN DID I OPEN A ROTH IRA, BEFORE 2021 OR AFTER 2021?

It seems the question should be, when was the original Roth IRA opened.

I am entering the distribution information into Boxes 1,2,3 for the 1099-Q and they add up correctly, yet the software says they don't and won't let me go on

I receive a monthly pension from an employer, I have the gross distribution amount, but the Box 2b regarding the taxable amount is not checked. How do I figure the tax

are pension payments taxable

2025 RMD

My 2025 RMD was short one month. I made the missing withdrawal in January 2026. Form 5329-T is asking to make a selection to indicate whether corrective distribution was taken during the correction window. Do I check "corrected-yes"? Will I still pay... read more

Can I enter a 1099-G for a taxable grant ?

Is there a from for a 1099-G taxable grant?

Tell Us the Value of Your Traditional IRA

I have a traditional IRA, a Rollover IRA (rolled from a 401k), an inherited IRA, and a Roth IRA (all at Fidelity). In 2023, I took the RMD from the inherited IRA. I also did a Roth conversion from my Rollover IRA to my Roth. I understand those amount... read more