TurboTax Premium (Senior Edition)
The most-used tax software among US seniors — TurboTax Premium handles every retirement income type with guided Q&A, including Social Security, pension distributions, RMDs, and investment gains.
Key Features
- All retirement income types covered
- RMD calculator included
- Auto-import W-2 and 1099
- Social Security income handling
Why seniors love it
Seniors with multiple income sources — Social Security, pension, IRA distributions, and investment income.
Worth knowing
TurboTax offers a free version for simple returns; the Premium tier is needed for investment income, rental income, or self-employment. Social Security income is handled automatically, including the taxable-portion calculation. AARP members should first check whether AARP Tax-Aide (free, staffed by IRS-certified volunteers) covers their situation.
Our Take
Senior tax returns are more complex than most — Social Security income calculations, required minimum distributions (RMDs) with penalty implications, pension 1099-R forms, capital gains distributions, and potential Medicare premium surcharges (IRMAA) all require accurate handling.
TurboTax Premium's guided interview covers every retirement income type automatically, auto-imports W-2, 1099, and Social Security statements, and includes an RMD calculator.
Frequently Asked Questions
Yes — TurboTax's guided interview calculates exactly what percentage of your Social Security income is taxable based on your combined income, applying the correct IRS formula.
Required Minimum Distribution — the IRS requires you to withdraw a minimum amount from traditional IRAs and 401(k)s each year after age 73. Failing to take the correct RMD triggers a 25% penalty.
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Browse Senior Tax Planning & FilingInformation last verified: 2025-01-01.