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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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 received a Form 1099-INT from the IRS but it is not the typical form with the numbered boxes, how do I enter this information in turbo tax?

Can I delete box 15 for state on, 1099 R?

How can change state on box 15 of 1099-R

Getting social security first time, what is EIN number for social security administration?

Backdoor Roth Conversions getting flagged as "excess contributions"

Hi, the existing instructions on entering a backdoor roth appear out of date with the current set of questions. Each time I enter in my backdoor roth, it gets flagged as an excess contribution. There is a confusing question about recharacterization w... read more

This answer has been verified for accuracy by an Intuit expert employee Why is there an "x" mark to the right of IRA/SEP/SIMPLE in box 7 of the 1099-R form?

The distribution code is 1 and I understand that, I'm just trying to determine if the x mark means that my IRA is SEP or SIMPLE.

Is the recipient of the distribution not the designated beneficiary?

If the box on 1099-Q is checked, should click 'Yes' or 'No' at TurboTax's 'Other Form 1099-Q information' page? Is 'Yes' = 'Yes, the recipient is the beneficiary'? Is 'No' = 'No, the recipient is NOT the beneficiary'? The wording on TurboTax is confu... read more

How do I account for WA PMFL income for personal medical leave? I did not receive a 1099 G form from the state.

I also did not receive a separate W-2 form for the amount. So I don't know if I claim it all or just a portion.

1099-R Box 14a for efiling New York State withholdings can not be greater than or equal to gross distribution or state distribution (nothing in box 16 on my form).

Box 1 and 14 are filled in, box 16 is empty. Wont allow me to emfile

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Reporting RRSP with Form 8938 and FBAR

Hi, I hope that someone can help us. My wife and I are Canadians who now live in Florida since 2006. We have both Canada and US Citizenship. After talking with some friends, it turns out that we need to declare any bank accounts that have more than $... read more

Ers retirement credit contribution define it for me

I want to know why if this is credit toward retirement funds why isn't it compared as a 401k when it distinctly builds your retirement credit as you work to gain retirement annuity but why does ssi treat this like a 401k when it is not? Thought it is... read more