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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Distributions in my CDN RRSP [reinvested]

Hello, I am a Canadian citizen, currently a non-resident and have distributions [being reinvested] within my RRSP account. The bank does not issue a slip for this distribution amount. It is simply a statement.Please note: I do not have any employment... read more

selling house - time frame to purchase another?

Is there a timeframe you must buy another house/property after selling one? A penalty or what exactly happens if the above exists but you do not buy within time?

Trying to do efile but 1099-R does not show a value other than zero for box 9a. If I attempt to enter a value like 0.01 I get a new error message saying I can't do it

It seems like this is a bug as I have entered in all the boxes correctly for my 1099-R but it keeps flagging box 9a because there's a 0 in it which matches what the bank sent me. TT s/w bug or era somewhere else in my form?

Quest about '26 return. '26 is the 1st yr that we will have no W-2, no K-1, and no NEC forms. How to forecast possible Div/CG, SS & IRA dist, tax implications?

We will have taxable cap gains and qualified dividends. Trying to estimate best strategy of taking SS? Take more CG? Take IRA distributions? I know taxes are stacked, with ordinary inc first. Just planning ahead.