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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Too late to claim basis for inherited traditional IRA?

My father died in 2020. He had several traditional IRA accounts with a significant tax basis. He last took an rmd in 2019 and filed 8606 forms in 2019 and preceding years showing the basis. There was no rmd in 2020, so there is no 8606 form with his ... read more

Box not checked on 1040-SR Check here if your main home was in the U.S. for more than half of 2025. Where do I check box so it shows up on form?

completed taxes and noticed box not checked. Went through return again and couldn't locate where to reply to this question so the box will be checked on the form.

Does IRA with qualified distribution have to be employer related ? when I select this option it automatically changes to employer sponsored

Does IRA with qualified distribution have to be employer related ?

My RMD is listed on Form 5498 not 1099R

Using an early IRA withdrawal for private high school tuition does not avoid the 10% early WD penalty for Federal, or 2.5% for state of CA, ? Just post high school?

Reporting Canadian RRSP Withdrawl on US Taxes

I am a US citizen and last year I had a withdraw from my Canadian RRSP. When I go to enter it under Wages and income I am not sure what the difference is between Total Distribution and Taxable Part of Distribution. For an example if my total withdraw... read more

TurboTax is telling me that my spouse had excess Traditional IRA excess contributions of $6618. That is not true. There were no excess contributions. How do I fix this?

I am 66 and I contributed $8k to my Roth IRA; my spouse is 65 and contributed $8k to her traditional (rollover) IRA. We both had income that meets thresholds. Tax year 2025. What is going on?

Conversion to Roth: Form 8606 seems to be incorrect; Line 4b is also incorrect

My husband and I both contributed 8000 to Traditional IRAs and converted both ( mine is a spousal IRA which I've never done before due to loss of job). However, for each of us there was a balance in Trad IRA at end 2024 because there was residual int... read more

Spousal Traditional IRA should not be taxed on the conversion (edited)

I have contributed to my traditional IRA as a spousal contribution and my husband to his own traditional IRA. We converted both to Roth. Turbotax is showing my conversion as taxable but not my husband's. Given my husband's income should cover both co... read more