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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

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

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

Does TurboTax take out what I owe for using all of my pension before I reached age? Or am I going to need to pay it back later?

I moved from CT to NJ and was unable to transfer my pension to a new one so I just withdrew the whole amount and used it. I have 10% put to the side, but I don’t know if I am able to use the 10% now that I have filed my taxes or if I should still hol... read more

Form 1099 different on my retirement 1099 form from Turbo 1099 form. Cannot add codes 7 and G to Turbo forms.

Why am I being taxed for a portion of my Social Security for 2025. I thought the no tax exemption was in place..

Turbotax has my total income after all of my deductions at 2126, but I am paying 820. This doesn't seem right. I did have self employment income of 5,250, is that why my tax is so high?

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.

I inherited a 403B from my stepmom born in 1941. Value @ 12/31/24 was $47280. What is the RMD for a non spousal plan?

RMD taken correctly, but penalty assessed

I have 2 IRAs. I took my full required RMD (approx. $15K) from my first IRA; and I took more than my full required RMD from my second IRA (the account had only $17 so I took the full amt and closed out the account). I completed my return on TT Premiu... read more

Turbotax saying difference between RMD amount and actual distribution that is inaccurate

My husband has 3 inherited IRA accounts which he receives a 1099-R for. For all three, he takes the RMD amount exactly, and ONLY the RMD amount as a withdrawal near the end of each year. We entered the 1099-R info for each of the 3, via upload and co... read more

I need to add a 1099-S to my documents

I sold my home and just received a 1099-S

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Featured Topics

Video Guide on Entering Qualified Charitable Distributions (QCDs) for the 2025 Tax Year

Retirement Video Guide 2025: Entering Your Required Minimum Distribution (RMD)

Traditional IRA vs. ROTH IRA: Which is better?

Retirement Plans: Taxing Distributions!

Retirement Plans: Tax Savings Galore!

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

Too late to claim basis for inherited traditional IRA?

Does TurboTax take out what I owe for using all of my pension before I reached age? Or am I going to need to pay it back later?

Form 1099 different on my retirement 1099 form from Turbo 1099 form. Cannot add codes 7 and G to Turbo forms.

Why am I being taxed for a portion of my Social Security for 2025. I thought the no tax exemption was in place..

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?

I inherited a 403B from my stepmom born in 1941. Value @ 12/31/24 was $47280. What is the RMD for a non spousal plan?

RMD taken correctly, but penalty assessed

Turbotax saying difference between RMD amount and actual distribution that is inaccurate

I need to add a 1099-S to my documents

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