Tax Return and Retirees: What Women Need to Know

Terri Spath |

Are you retired? We have a specific checklist just for you as you start to collect your documents for your 2022 tax return.

In this review:

  • Check your filing status. If you are married should you automatically file jointly with their spouse or might there be situations where you might consider filing separately?
  • If you are divorced or widowed, there are filing steps for them to take depending upon timing and circumstances.
  • If tyou had investment income for the prior year, there are reporting issues that you will want to be sure to address with this income.
  • If you have tax-advantaged accounts (IRA, Roth IRA, SEP IRA, for example) during the prior tax year there may be some reporting issues to consider, especially if you took any distributions from these accounts. If you have reached a certain age, did you take the full amount of your required minimum distribution RMD from your retirement plans? Did you do a rollover to an IRA? Were any distributions taken from an after-tax IRA account?
  • Check to see if you had a high level of medical expenses or if there are state-specific issues to be considered.

As you review your tax returns, be sure to understand and answer the questions in this checklist. We can help.