Inbox Questions | When Should You Stop Using TurboTax?
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 2 January 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Today, we tackle a question many retirees face: Can you manage your taxes with DIY software like TurboTax, or is it time to bring in a professional? We'll explore the challenges of navigating tax complexities in retirement, including 401(k) rollovers, RMDs, and other scenarios that could make filing trickier than expected.
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Transcript
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| 0:00.0 | Welcome to the Big Picture Retirement Show. |
| 0:07.7 | Today, we're going to the inbox to answer questions sent in by you, our listeners. |
| 0:12.7 | Now, if you'd like to send us a question, just head over to big pictureretirement.com and click |
| 0:17.3 | the Ask a Question tab in the top menu. |
| 0:19.8 | Oh, and just a quick reminder. |
| 0:21.2 | On this podcast, we provide general information |
| 0:24.3 | and not specific tax, legal, or financial advice. |
| 0:28.0 | But if you're ever ready to move from the broad education we provide here |
| 0:31.9 | to personalized advice that's specific to you, |
| 0:35.6 | you can find links to our websites down in the description. |
| 0:39.2 | Now let's jump in to today's question. |
| 0:45.2 | John, our first question comes from Doug. Doug says, for many years, pretty much since its inception, |
| 0:51.1 | I've used TurboTax to do my taxes. TurboTax has always got me through its many questions, and for the past several years, |
| 0:57.7 | I've downloaded all the forms from my financial institutions. |
| 1:01.5 | As I'm sitting here pondering which TurboTax license I should buy for the new year, |
| 1:06.0 | I'm wondering if this year's 401K rollovers or the following year when I'm doing 2025 taxes, |
| 1:13.0 | is that going to be too complex for TurboTax? |
| 1:15.8 | I realize you don't offer any tax prep services, |
| 1:18.3 | but just curious on what you see or hear people do in terms of doing their own taxes |
| 1:24.0 | after retirement. |
| 1:25.3 | John, that's a question. |
| 1:26.1 | I get a lot. |
... |
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