All Retirement tax questions posts

For elderly credit do I include my income and social security benefits

Janjnr03 — Tue, 14 Apr 2026 03:06:14 GMT

I don’t understand what income to include

Re: What does "Summary of state and local tax refunds" mean? says it's from 1099-G, but unsure wh...

LindaS5247 — Tue, 14 Apr 2026 02:47:53 GMT

Summary of state and local tax refunds refers to the total amount of money refunded to you, or credited to your account, by a state or local government taxing agency during the previous calendar year. This information can be found on Form 1099-G, usually in Box 2.

You should receive Form 1099-G by mail from your state department of revenue. Many states do not mail these forms and require you to visit their revenue website to print them.

If you did not receive a form, you can find this number by looking at your state income tax return from the previous year, specifically looking for the refund amount you received.

The 1099-G is sent to you because the government must report these payments, but it is not automatically taxable on your federal return.

If you used the Standard Deduction on your federal tax return for the year that you paid the taxes (the year stated in Box 3), the refund is generally not taxable.

If you Itemized Deductions on your federal tax return (Schedule A) for that year and claimed a deduction for state and local income taxes, all or part of the refund is likely taxable.

Please return To Community if you have any additional information or questions and we would be happy to help.

Re: In review, how do I edit a 1099-R?

DawnC — Tue, 14 Apr 2026 02:45:06 GMT

Exit the review and go back to the 1099-R summary page. Click on Edit or the pencil icon to make changes and then go back to the review. Where do I enter a 1099-R? (this will take you to the 1099-R summary)

In review, how do I edit a 1099-R?

softhart1 — Tue, 14 Apr 2026 02:42:31 GMT

Re: How do fill out form 3468 in Turbo Tax Business?

andyoak — Tue, 14 Apr 2026 02:43:00 GMT

@douze_b I ended up switching to TurboTax Desktop so I could override the 6% to 30% (the incorrect Form 7220 filing requirement has been fixed in that version) and filed today, which was pretty seamless.

Unfortunately, I had already paid for Online, so that I could view/proofread the actual tax forms -- and of course, they don't want to refund it (even though their website states that they'll refund the fees if the product is unusable). I may have to have my credit card bank reverse it.

What does "Summary of state and local tax refunds" mean? says it's from 1099-G, but unsure where to find that from.

ghazalkhaqan98 — Tue, 14 Apr 2026 02:38:04 GMT

Re: On which form do I enter distribution which is reinvested within my Canadian Registered Retir...

Razi — Tue, 14 Apr 2026 02:21:16 GMT

HI Dave,

I visited the Sprintax site to determine the eligibility for a resident / non-resident, and based on the number of days that I have been in the USA, I am considered a resident for tax purposes [I had relocated to USA on August 03, 2024 and since then KI have been here]. So this means, the form 1040 is correct, however, I need to make corrections as per below message:

Use the "Canadian Registered pension" section in TurboTax to enter the income and foreign taxes paid. This is found under Wages & Income, Retirement Plans And Social Security Canadian Registered Pension Income. Select Start to the right of Canadian registered Pension Income.

So, the above will correct the RRSP portion but where to enter the distribution [reinvested] on my TFSA account?

Am I correct with my understanding?

Hope to hear from you. Thanks!

Re: I am 78 and still working. I took my RMD's from my IRA's. Can I make a contribution to my ira...

MaryK4 — Tue, 14 Apr 2026 02:06:23 GMT

Yes, you can continue to make contributions to your IRA at age 78 as long as you have earned income. Under the SECURE Act of 2019, the age limit for making contributions to a Traditional IRA was repealed.

You must have taxable compensation (such as wages, salaries, or self-employment income) at least equal to the amount you contribute.

I am 78 and still working. I took my RMD's from my IRA's. Can I make a contribution to my ira from my earned income?

RICHJDEAN — Tue, 14 Apr 2026 02:04:18 GMT

Re: how do i enter a backdoor Roth in turbotax online for 2025? The only box I see for nondeducta...

ashupe7 — Tue, 14 Apr 2026 01:46:45 GMT

Thank you I was able to go back through and found my mistake. I had also entered that I made Roth contributions however, it was only the conversion and not a direct Roth contribution so it was adding double amount and showing an over contribution.

Re: Excess 2025 Roth IRA Contribution - What to do?

Opus 17 — Tue, 14 Apr 2026 01:40:11 GMT

First you need an extension. The bank probably can't process your withdrawal in time.

Then, yes, you can only contribute to an IRA up to your "compensation" from working, that is W-2 box 1 wages, plus about 92% of your self-employment income. To avoid a penalty, you need to withdraw the excess contributions before the extended tax deadline (which is April 15 if you don't ask for an extension and October 15 if you do ask for an extension.) The broker will also withdraw for you any earnings that are attributed to the excess contribution. You report those earnings as taxable income on your 2025 tax return because they were 2025 contributions, even if the actual withdrawal happened in 2026.

To report the withdrawal of the excess, enter a fake 1099-R (not a substitute 1099-R, enter it as if you got a real 1099-R). The total withdrawal is in box 1, the taxable earnings are in box 2a, and use code PJ in box 7. The PJ code will tell the IRS and the tax program that this is interest on a withdrawal of excess.

Re: Assistance with Reporting Nondeductible IRA Contributions for 2025 Tax Year

baldietax — Tue, 14 Apr 2026 01:33:41 GMT

@dnvyas what happened in Turbotax tho - are you following these steps for the contribution?

https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-ira-conversion/L7gGPjKVY_US_en_US

be sure not to answer any questions about recharacterizing the contribution to Roth just answer purely as a Trad IRA contribution. The Roth conversion will be reported in your 2026 taxes when you get the 1099-R along with the 2026 contributions.

Re: I don't understand this comment: "Because $1,200.00 was withheld in taxes, you should only select Yes if you actually converted $12,000 using $1,200 of your own money"?

VolvoGirl — Tue, 14 Apr 2026 01:21:56 GMT

#2 you only converted 10,800 into the ROTH IRA. You would have needed to replace the 1200 tax withholding with other money to convert the full 12,000. It actually works out the same as being 12,000 taxable. But now you only have 10,800 in the ROTH account.

Re: I don't understand this comment: "Because $1,200.00 was withheld in taxes, you should only se...

MaryK4 — Tue, 14 Apr 2026 01:19:25 GMT

If you did not convert the entire $12,000 yo8u would indicate that you converted less than $12,000.

Because that $1,200 was sent to the IRS for taxes instead of being deposited into the Roth IRA, it is treated as a taxable distribution. If you are under 59 ½, you will likely owe a 10% early withdrawal penalty on that $1,200, even though it was used to pay taxes. TurboTax is checking if you "made up" the difference. If you had taken $1,200 from your personal savings account and added it to the Roth within 60 days, you could say "Yes" you converted the full $12,000. Since you didn't, you only converted $10,800.

Re: Excess 2025 Roth IRA Contribution - What to do?

baldietax — Tue, 14 Apr 2026 01:18:02 GMT

Can you clarify how much you contributed - "as a freelancer my taxable income was lower than what I put into my Roth IRA account in 2025"

Do you mean your compensation was too low to cover the contribution (at most $7000 or $8000 if 50 or older), or did you misunderstand the upper contribution limit?

The same upper and compensation limits apply for Trad IRA contributions if you plan to recharacterize, it's just a question of whether you qualify to make a Roth contribution or deductible Trade IRA contribution due to the MAGI phaseouts. If you do recharacterize say to a non-deductible Trad IRA contribution then your basis will be the original amount of the Roth contribution, and any gains/losses are treated as having happened in the Trad IRA.

see 590a "excess contributions" and "recharacterization" sections for guidance

https://www.irs.gov/pub/irs-pdf/p590a.pdf

note the time limit to sort this out includes extensions so you might need to do that to provide time to sort it out with your brokerage.

Re: How do fill out form 3468 in Turbo Tax Business?

douze_b — Tue, 14 Apr 2026 01:16:28 GMT

Thank you for the pointer to the list of forms available on each version of TurboTax, but this post is largely about missing or broken functionality in one of the forms (3468 solar investment credit) which your team mentioned was being addressed, but probably not before filing deadline.

I'm trying to figure out how I can track when that functionality gap has been fixed? Any thoughts here?

Thank you!

I don't understand this comment: "Because $1,200.00 was withheld in taxes, you should only select Yes if you actually converted $12,000 using $1,200 of your own money"?

claudiafwinkler — Tue, 14 Apr 2026 01:14:39 GMT

I converted $12,000 from my IRA to a Roth IRA. Only $10,800 went into the Roth. The remaining $1,200 was withheld for Federal income tax. I don't know which item to check..... 1. Yes, all of this money as converted to Roth IRA. 2. No, I converted less than $12,000. 3. I didn't convert any of the money.

Re: Assistance with Reporting Nondeductible IRA Contributions for 2025 Tax Year

dnvyas — Tue, 14 Apr 2026 01:10:07 GMT

The option for Non Deductible is not available.

Re: Assistance with Reporting Nondeductible IRA Contributions for 2025 Tax Year

dnvyas — Tue, 14 Apr 2026 01:09:24 GMT

Hi TurboTax Support,

I need assistance with properly reporting a nondeductible IRA contribution I made in early 2026 for the 2025 tax year. Here’s a summary of the steps I took:

1. Traditional IRA Contribution: I opened a Traditional IRA account with Wells Fargo Advisors in April 2026 and contributed $8,000 for the 2025 tax year, as well as $8,600 for 2026.

My wife also contributed $7,000 for 2025 and $8600 for 2026
2. Roth IRA Conversion: I also opened a Roth IRA account at Schwab and, a few days later, converted the total $32,200 ($15,000 for 2025 + $17,200 for 2026) from the Traditional IRA to the Roth IRA.
3. Tax Software Issue: While filing my 2025 tax return, TurboTax is not prompting me to designate the $15,000 (for 2025) contribution as a nondeductible IRA contribution. Furthermore, when I preview my tax return, I do not see Form 8606 included, and there is no mention of the nondeductible IRA contribution anywhere in the return.

Re: Do I not report an RMD amount that is listed on form 5498 as due on April 1 2026?

MaxA1 — Tue, 14 Apr 2026 01:03:57 GMT

Yes, you would have to pay taxes on this once distributed. The amount listed on 5498 as your RMD should've been distributed to you by April 1st, 2026. If you took this RMD between January 1st, 2026 and April 1st, 2026, there is nothing to report on your 2025 tax return. If you took the RMD in 2025, you should've received a 1099-R showing the amount distributed and you will use that form to report the RMD on your 2025 tax return.