Should I indicate that somewhere?

[tevans1]

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

[JohnB5677]

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:

1. Log into TurboTax
2. On the left banner select My Info
3. Select your Name
4. Scroll down to Occupation
5. Make your entry
6. 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.

[xmasbaby0]

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.