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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Can not add the 1099-R's?

When I type the banks it can not find it? Why will it not find my banks?

First year RMD

This is my first year for an RMD and I've withheld most of it is 2025 but there is still a small amount that I will withhold before April 2026. How do I enter this is TT? Do I report the amount I've withheld so far and then the remainder in 2026 in a... read more

When will Turbotax update their State of Wisconsin tax software in include the new (2025 tax year) and expanded retirement income exclusion for seniors?

My Turbotax software for tax year 2025, completely updated, does not have this exclusion in the software for Wisconsin.

1099-Q QTP to Roth

My son did a conversion in 2025. The turbo tax form shows an error that the program hasn't been setup yet to accommodate this. Is there any estimate when this might be updated?

I took the require RMD but Turbo Tax has a tax on excess accumulations in retirement accounts what is this?

$63,000 RMD but Turbo Tax wants extra $6,000 tax and excess accumulation in retirement accoutns

Can I edit the 1099-c worksheet

Can the 1099-c information be edited

Social Security Benefits Worksheet - line 1b

I don't understand what this worksheet is doing. I have over $100k in investment and other income, and about $30k in social security benefits. Line 1b counts a benefit exemption for living in a foreign country - but I have never lived outside the US ... read more

How/where do you document total RMD on 1040 when entire amount was taken from one of several accounts, and nothing was taken from the other accounts?

How is foreign pension reported with no 1099 form?

I see suggestions on reporting foreign pension as "Other income". Will the interview process enable me to also report the foreign taxes paid on that income or will I need to claim a foreign tax credit in a different way? I am using the desktop versio... read more

I am trying to enter information for a backdoor Roth contribution. Searched help section but not helpful. Specifically, this setp "Step 2: Enter the conversion from a .."

Follow the instructions in the Help, "Step 2: Enter the conversion from a Traditional IRA to a Roth IRA 1. Go to Federal Taxes. 2. Go to Wages & Income." I am not able to find "Go to Wages & Income". I am using online version TurboTax