Spouse retirement

Forum|Forum|3 years ago
November 16, 2022
1 reply
5 views

I have been retired for 9 years and my wife is retiring on January 3, 2023. What should I do to prepare for this with my tax returns?

user17710879094

Level 4

Congratulations to your spouse on retirement! You may already know but social security provides the option to have tax withheld which you may want to take advantage of.

When you complete your tax return for 2022 you have the option in TurboTax to estimate your tax liability for 2023, adjusting your income and withholding amounts reflecting your spouse's revised income and withholding amounts. You may or may not to need to adjust existing withholding or pay estimated tax payments.

The following will take you to additional information:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-payments/turbotax-calculate-estimated-tax-payments/L1t8Q2cQl_US_en_US?uid=lajxrxne