Should I indicate that somewhere?

Forum|Forum|2 years ago
March 26, 2024
2 replies
9 views

My wife and I are both retired. Should I indicate that somewhere?

TurboTax Online

VolvoGirl

Level 15

No, that's not needed unless you want to enter it under Occupation. That won't affect your tax return. Just enter any forms you get like normal. You may have some 1099R and SSA-1099 for Social Security .

Vanessa A

Level 15

You can enter retired as your occupation, however, your occupation does not have any actual affect on your return. Your income is the thing that will affect your return the most. If you are both only receiving Social Security, you may not need to file a return at all.

If you have Other types of retirement income, investment income or other income, you will enter it as you normally would. Basically, the biggest change is you will not have a W-2 to enter on your return.

Taxes in Retirement: 7 Tax Tips for After You Retire

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