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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

I wasn't aware that I could withdraw from my IRA penalty free if I used it for a downpayment. I've needed to withdraw from my IRA this year. Can it be retroactive?

I used cash to pay the down payment in 2024, then had several very expensive unexpected things to fix on the house due to being lied to by omission by the realtor, seller and inspector. In 2025 I had to pull from my IRA to pay basic expenses. Is ther... read more

Retirement Income. Three Year/General method or Do Not Apply

I have two retirement related sources of income to report, but I am not sure I am entering them properly. One is a lump sum distribution received as an inheritance from a recently passed relative's 403b plan. The other is a lump sum from my own 401k.... read more

Taxability of NYS inflation relief check

Hi (again), I received a $400 "inflation relief check" in 2025 from New York State. I'm trying to confirm whether or not it is taxable on my Federal return. Google/Gemini implies that it is NOT if you took the standard deduction in 2023(!) but I'd li... read more

W2 shows gross dist. amt. Box 2a shows same amount. Box 2b says "taxable amt. not determined"??

Box 1 gross dist. amt. Box 2a shows same amt. Box 2b says taxable amt. not determined, Which do I use 2a or 2b?

Have no 1099-B, why does turbo tax ask for iy?

What is 1099-B for? I have none

I am73 and self employed and made the maximum SEP IRA contribution. When I enter my traditional individual IRA contribution of 8,000 as occurring between 1JAN26 and 15APR26 my tax burden increases. Why?

how TurboTax will not let me edit my 1099-r?

Says my 1099-R needs review but it will not let me select to edit!

Pension and IRA RMD

I am still confused, my pension is $20,000 a year and considered all as the RMD. My IRA is $100,000 which has an RMD of $4065. So is $24,065 my RMD for the year? Does the pension RMD cover the RMD for the year? So I would not have to take anything ou... read more

How can I manually go into a form to correct something that Turbotax is deducting from Schedule 1, but which should not be deducted (401K contribution)?

I don't understand why Turbotax is inserting the max allowable contribution to a retirement account (401k) but it exceeds what I actually contributed.

How can I manually go into a form to correct something that Turbotax is deducting from Schedule 1, but which should not be deducted (401K contribution)?

I don't understand why Turbotax is inserting the max allowable contribution to a retirement account (401k) but it exceeds what I actually contributed.