Should I indicate that somewhere?

Forum|Forum|2 years ago
March 26, 2024
1 reply
1 view

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

TurboTax Online

JohnB5677

Level 15

Yes, You can indicate that you are retired. It is in the My Info section of your TurboTax software.

To enter your "Occupation" as Retired in TurboTax in the Online program:

Log into TurboTax
On the left banner select My Info
Select your Name
Scroll down to Occupation
Make your entry
Repeat this for your wife.

Just as a note.

It is only used by the IRS for information purposes.
It has no Impact on your tax return.
Your are however, will make a difference, regardless if you're retired.

Please contact us again with any additional questions.

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xmasbaby0

Level 15

The IRS does not use "occupation" for anything that affects your tax due or refund. They only use occupation for statistics. So, you can use "retired" as an occupation if you want to. Otherwise, the IRS is not really interested in knowing that you are retired. The IRS just wants you to report your income---whatever kind of income that happens to be----W-2 income, investment income, self-employment income, retirement income, rental income, interest income, etc.etc.etc.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**