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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

What if we do NOT have W-2 forms as we are retired and only have 1099 forms? Intuit keeps asking for W-2 data

Am I eligible for a Pension Income Deduction on my Maine state return? I live in Maine, am retired, and am collecting a pension from my teaching career in CT.

My 1099-R from CT Teachers' Retirement Board withholds FEDERAL taxes but no state taxes.

we rolled over $7000 from my son's 529 plan to his roth IRA. I indicated it was a roth IRA rollover within turbo tax, yet it seems to be making this taxable when not.

1099Q indicates QTP to Roth IRA. This is only the 2nd rollover (not exceeding 35k limit) and he earned more than 7K during the year. This should not be taxable. What did I miss in entering the information within TurboTax?

Receive monthly payment from OK State retirement pension, as a Correction Officer. Do not have RMD info Turbo tax is asking. What can I do?

Receive income on a 1099-R, not 401K or anything else. RMD does not enter into this income, how can I progress thru Turbotax?

1099R due to distribution from State Farm ins. Due to premium overage

Last year my only option to enter my 1099R for a distribution from my insurance contract(State Farm), amt higher than our premium amt. was an IRA or Roth. This wasn’t for either of those. I was told this would be fixed so I could check the appropriat... read more