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The Required Minimum Distribution (RMD) is the mandatory amount that must be withdrawn from most retirement accounts each year.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

Unable to Get TurboTax to Treat My Early Roth IRA as Contributions Only and Not Gains

In EXPERT @DavidD66 March 16, 2024 reply to "I got 1099-R for distr from Roth IRA. I took the distribution from the contributions and not the gains. Box 2b is checked. How to indicate that this is not taxable amt? There is no easy way to determine wh... read more

how to report excessive contribution on turbo tax.

where to post return of excess contribution on turbo tax

TurboTax Software Error – Incorrect Default Setting Caused Miscalculation of Taxable Social Security

I am writing to report a critical issue I encountered while filing my 2024 tax return using TurboTax.My adjusted gross income was $48,000, and a portion of my income came from Social Security. However, TurboTax failed to correctly calculate that 85% ... read more