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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

You said How to determine RMD for Minneapolis Retail Meat Cutters and Food Handlers Pension Fund. The 1099R is all the info I have. I'm not aware of a RMD amount?

1099-R bank and brokerage information missing

I'm trying to enter a 1099-R for Life Insurance Co of the Southwest in and they don't come up as a option or allow me to enter the information myself. What is the trick to get by this?

If I am filling out turbo tax 1099 info, and I have a joint investment account with a non-spouse, but I am the primary owner, does the form belong to me, joint, or other?

I confused on who pays the full taxes and if there are any deductions for splitting income since we are Joint tenants

2024 AGI=$56k. 1040-SR taxable amount=$18k. When entering my income for 2025, I get "earlier year taxable ss benefits should not be more than $17071". Can I ignore this?

Calculation was done by Turbo Tax, so assuming correct. I know the ss income is above 2024 threshold, therefore taxable.

Can I correct an excess distribution from a 403B is it is re-deposited to the retirement account in the following year?

My plan did an erroneous double distribution in Sept. 2025 and reverse the second transaction in Jan. 2026 (re-deposited to the 403b plan). Is there any way I can re-balance this when I file taxes?

Do I need to have a form 5329-T? I can't get past this page asking if my form 5329-T has "no entry", or corrected-yes/no".

QCD with inherited IRA (box 7 is 4 )

I am using Turbo Tax Online. I am 73 and I have an inherited IRA from my mother who died in 2024. I donated the RMD directly to charity and have proper receipt from the charity. In 2024 I also donated the first RMD directly to charity and it was corr... read more