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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Why would my Federal taxes due go up after entering my Traditional IRA contributions? I thought those were non taxable till I draw for retirement?

i have an inherited IRA. Do I enter the date the original owner opened it or the date it became mine?

1009-R Box 7 G, but showing as taxable in Federal Review

I've entered my 1009-R. Box 2a is correctly entered as $0.00. Box 7 is correctly entered with a G. All other boxes are empty. The program asks about rollover to a Roth 401k but never confirms the amount was rolled to aTraditional IRA. It now shows up... read more

Annuity Start Date on CSF 1099

I started receiving survivor benefits in 2025. When TurboTax asks for annuity start date, is that the annuity start date of my spouse or the date I started receiving survivor benefits?

401K Dispersement

I quit a job while having $94.23 in a 401K plan. The plan returned the money to me minus fees of $75.15. They did not send a 1099-R. Do I need to report an amount on my taxes?

I was not eligible for SS in 2024. Received in SS widow pension due to SS Fairness Act

Received lump sum Jan 2025 and monthly pension

Question on calculating Roth IRA contributions

I have a question on Roth IRA contributions. I'd thought it was simply the total of the regular contributions, but I've seen some hints that it should be the contributions minus the distributions. This years distribution exceeds the accumulated contr... read more

Where do I check the box for EligibleForChildTaxCreditInd?

My return keeps getting kicked back saying, "Each dependent in 'DependentDetail' on the return with 'EligibleForChildTaxCreditInd' checked must be under the age of 17. You may be eligible to claim the "Credit for other dependents" if you meet the req... read more

Is it possible to enter multiple 1099-SAs for one person? I had two last year and it doesn't seem possible to enter more than one.

Assumed vs Inherited IRAs

My mother assumed a traditional IRA from her deceased husband. She assumed the IRA in 2025. Her husband died in 2024. She took an RMD from the assumed IRA in 2025. When putting the 1099-R into TurboTax Desktop, there is an interview question "Do any ... read more