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January 25, 2022
Question

Now that we’re both retired and not receiving income except retirements 1099-R statements which tax forms will we need

  • January 25, 2022
  • 2 replies
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With no longer receiving W-2 earned income forms just 1099-R forms please advise which turbo tax program we should use

2 replies

SteamTrain
Employee
January 25, 2022

The tax software version isn't tied to any W-2 or 1099-R situation.

 

Any version can be used if you use the Desktop software, but if you need a state tax return, you would use the Deluxe or higher version

_________________

Online software has more specific requirements

 

1)  Free can be used for "Simple" W-2 and 1099-R and SSA-1099 situations.

BUT

2)  Deluxe is required to take advantage of "Itemized" deductions if you have sufficient $$ to exceed your Std Ded for MFJ  ~$25,000  (and gets higher if over age 65 or blind)

and

3)  IF you have any stock/bond/mutual fund sales, LT Capital gains distributions, home sale, rental or farm income, you would require Premier.

4)  Any self employment income requires Online SE

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
January 25, 2022

Start with TurboTax Basic and then if TurboTax thinks you need to upgrade it will let you know.  But Basic can do a 1099-R.

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