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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

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

I submitted my joint return but forgot to add my social security income to the return. What should I do to rectify this error?

How do I get rid of the Canadian Pension request for information?

I entered the correct amount for all the boxes and answered No to the question about living abroad and am still getting the "needs review" error.

How to enter Room & Board expenses in 1098-T / 1099-Q sections

Turbo Tax is not prompting for room & board expenses in this section (only Book expenses). How do I go about entering, in order to get the proper netting of 1099-Q and total college expenses?

Before I continue with my tax return, I need your help in correcting my husband's social security information.

Box 6: Is the recipient of the distribution the designated beneficiary? Recipient is not designated beneficiary

1099Q BOX 6, How do I answer that question? The wording of the two sentences is contradictory on Turbotax. Taxpayer IS the designated beneficiary, Box 6: Is the recipient of the distribution the designated beneficiary? Recipient is not designated ben... read more