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calculate 2022 taxes for new retiree

Hi. I retired Jan 14, 2022. I'm trying to estimate 2022 taxes but when I use the IRS tool it says I can't use it because I'm not employed any longer (it's only for employed). Does Turbotax have a tool I can use? Or do you have another recommendation? Thanks.

2 Best answer

Accepted Solutions
OpeA1
Employee Tax Expert

calculate 2022 taxes for new retiree

Yes, that should be fine. Please note that it is only an estimate.

Congratulations on your retirement!!

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OpeA1
Employee Tax Expert

calculate 2022 taxes for new retiree

Yes, @Wampuskat-8  that is correct. Turbo Tax will ask and do the reconciliation for you. That is what make our software one of the best in the industry!

 

Thank you for being a valued customer!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

5 Replies
OpeA1
Employee Tax Expert

calculate 2022 taxes for new retiree

Hello @Wampuskat-8 !

 

Yes, Turbo Tax does have a calculator you can use for free! It is called TaxCaster.

 

Please click on this link: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ 

  1. Go to Tools and Resouces
  2. Tax Calculators
  3. TaxCaster tax calculator.

Thank you!

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

calculate 2022 taxes for new retiree

I used that but it's asking me for 2021 info and not 2022. I put in 2022 info/estimates but is the result accurate since it's asking me for 2021 info?

OpeA1
Employee Tax Expert

calculate 2022 taxes for new retiree

Yes, that should be fine. Please note that it is only an estimate.

Congratulations on your retirement!!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

calculate 2022 taxes for new retiree

Thanks! Another question: I'm enrolled in healthcare.gov and using that for our health insurance. I'm receiving subsidies based on our 2022 estimated income. I'm assuming when I do my 2022 taxes next year Turbo Tax will ask me about our 2022 actual income, compare it against what we paid in premiums based on the estimated income I submitted and reconcile (we paid too much or too little in premiums), right?

OpeA1
Employee Tax Expert

calculate 2022 taxes for new retiree

Yes, @Wampuskat-8  that is correct. Turbo Tax will ask and do the reconciliation for you. That is what make our software one of the best in the industry!

 

Thank you for being a valued customer!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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