Explore Your Retirement

Year-End Money Checklist for 2026

Some money decisions have deadlines at the end of the year. Others can wait until the tax-filing deadline next spring. This checklist explains the rules for tax year 2026 so you know which is which. It does not tell you which actions are right for you.

Covers U.S. federal rules for tax year 2026. State rules may differ. Last reviewed: October 2026.

Key deadlines

Your employer or financial institution may require an earlier processing date, so check with them rather than waiting until the last day.

By December 7, 2026

  • Medicare open enrollment changes

By December 31, 2026

  • Workplace plan contributions, such as 401(k) and 403(b)
  • Required minimum distributions (except a first one, which can be delayed until April 1, 2027)
  • Roth conversions
  • Qualified charitable distributions
  • Sales of investments to realize gains or losses
  • Flexible spending account balances, unless your plan allows a carryover or grace period

By January 15, 2027

  • Fourth-quarter estimated tax payment for 2026

By the April 2027 tax-filing deadline

  • IRA contributions for 2026
  • Health Savings Account contributions for 2026

Choose “Help me understand” or “Show explanation” to see the rule, the 2026 figures, and a link to the official source. Mark where you stand, and the summary at the end will list what you are still working on. Your answers are not saved or sent anywhere.

Retirement contributions

Are you on track to contribute what you intend to your workplace plan by December 31?

For 2026, you can contribute up to $24,500 to a 401(k), 403(b), most 457 plans, or the federal Thrift Savings Plan. Contributions come out of your paychecks, so any change must be made before your final paycheck of the year.

Source: IRS, 2026 contribution limits

If you are fifty or older, do you know your catch-up limit?

Workers fifty and older can contribute an additional $8,000 in 2026, for a total of $32,500. Those ages sixty through sixty-three can contribute an additional $11,250 instead. Starting in 2026, higher earners may be required to make catch-up contributions as Roth contributions, so ask your plan how this applies to you.

Source: IRS, 2026 contribution limits; IRS Notice 2025-67

Have you decided whether to contribute to an IRA for 2026?

The 2026 IRA limit is $7,500, plus $1,100 for those fifty and older. You have until the tax-filing deadline in April 2027 to contribute for 2026. You generally need taxable compensation, such as wages or self-employment income, to contribute. Retirement income such as pensions, Social Security, or investment income does not count, although a spouse without compensation may be able to contribute based on the working spouse’s compensation on a joint return. Whether a contribution is deductible, or whether you can contribute to a Roth IRA, depends on your income.

Source: IRS, 2026 contribution limits; IRS Publication 590-A

If you have a Health Savings Account, have you reviewed your contributions?

For 2026, the limit is $4,400 for self-only coverage and $8,750 for family coverage, plus $1,000 for those fifty-five and older. You must be covered by an eligible high-deductible health plan, and you cannot contribute once you are enrolled in Medicare. The deadline is the tax-filing deadline in April 2027.

Source: IRS Publication 969

Withdrawals and conversions

If you must take a required minimum distribution this year, have you taken it?

Required distributions are generally due by December 31. Your first one can be delayed until April 1 of the following year, but then you take two in the same year, which can raise your taxes. Missing a required distribution can lead to a 25 percent penalty on the amount not taken, reduced to 10 percent if corrected promptly.

Source: IRS required minimum distribution worksheets; IRS Publication 590-B

If you are considering a Roth conversion, have you estimated its tax effect?

A conversion must be completed by December 31 to count for 2026. The taxable portion of the conversion is included in your income for the year. Any after-tax amounts you contributed earlier are generally not taxed again. A conversion cannot be reversed. It can also raise your Medicare premiums two years later.

Source: IRS Publication 590-A

If you are sixty-five or older, do you know about the new senior deduction?

For tax years 2025 through 2028, people sixty-five and older can deduct an additional $6,000 each. It begins to phase out when modified adjusted gross income exceeds $75,000 for single filers or $150,000 for married couples filing jointly. A large withdrawal or conversion can reduce or eliminate it.

Source: IRS, tax deductions for working Americans and seniors

If you give to charity and are seventy and a half or older, do you know about qualified charitable distributions?

You can give directly from your IRA to a qualified charity. The amount is not included in your taxable income, and it can count toward your required distribution. The money must go directly from the IRA to the charity by December 31, and an annual limit applies.

Source: IRS Publication 590-B

Investments and taxes

Have you reviewed your taxable investment accounts for gains and losses?

Selling an investment at a loss can offset capital gains, plus up to $3,000 of other income per year ($1,500 if married filing separately), with any unused loss carried forward. This applies only to taxable accounts, not to IRAs or 401(k) plans. Sales must be made by December 31.

Source: IRS Topic 409, Capital gains and losses

Do you understand the wash-sale rule?

A loss is disallowed if you buy the same or a substantially identical investment within thirty days before or after the sale. This includes purchases made in your own IRA.

Source: IRS Publication 550

Will you have paid enough tax during the year?

If too little tax was withheld, the fourth-quarter estimated payment for 2026 is due January 15, 2027. Tax withheld from an IRA withdrawal is generally treated as paid evenly throughout the year, which some retirees use to make up a shortfall late in the year.

Source: IRS Publication 505

Health and benefits

If you are on Medicare, have you reviewed your coverage during open enrollment?

Medicare open enrollment runs from October 15 to December 7 each year, and changes take effect January 1. Plans change their costs and coverage each year, so a plan that suited you last year may not suit you now.

Source: Medicare.gov

Have you used your flexible spending account balance?

Flexible spending accounts are generally use-it-or-lose-it. Some plans allow a limited carryover or a short grace period, so check your plan's rules before year-end.

Source: IRS Publication 969

If you are working, have you reviewed your benefit elections during your employer's open enrollment?

Open enrollment is usually your one chance each year to change health coverage, flexible spending, and other benefits without a qualifying life event.

Where you stand

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The rules and figures on this page are for tax year 2026. They change each year, and many depend on your income and filing status. A tax professional can help you apply them to your own situation.

What would you like to understand better? Tell me here.

This checklist is for general education only and is not personal financial, tax, legal, or investment advice. Figures are for tax year 2026, as published by the IRS and Medicare. Confirm current details with the official sources linked.

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