By Harry Prabandham · Updated September 28, 2026
Tax Planning
Year-End Tax Planning Checklist for 2026
Before December 31, 2026: review 401(k) deferrals, realized gains and losses, Roth conversions, charitable gifts under the new rules, RMDs, and estimates.
Year-End Tax Planning Checklist for 2026
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What should you review before December 31?
- Retirement plan deferrals, which must come out of 2026 paychecks by year-end.
- Realized gains and losses, since sales must settle within the calendar year you want them taxed in.
- Roth conversions, charitable gifts, and required minimum distributions, which all have December 31 deadlines.
- Withholding and estimated payments, so the April balance due and any penalty hold no surprises.
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What should you review before December 31?
- Retirement plan deferrals, which must come out of 2026 paychecks by year-end.
- Realized gains and losses, since sales must settle within the calendar year you want them taxed in.
- Roth conversions, charitable gifts, and required minimum distributions, which all have December 31 deadlines.
- Withholding and estimated payments, so the April balance due and any penalty hold no surprises.
Are you on track with retirement contributions?
- The 2026 401(k), 403(b), and most 457(b) deferral limit is $24,500, plus $8,000 at 50 or older, or $11,250 at ages 60 to 63.
- Starting in 2026, catch-ups for people with over $150,000 in prior-year FICA wages from that employer must be Roth.
- IRA contributions of up to $7,500, plus $1,100 at 50 or older, can be made until the April 2027 filing deadline.
- HSA contributions for 2026, up to $4,400 self-only or $8,750 family, are also allowed until the filing deadline.
Is tax-loss harvesting worth reviewing?
- Realized losses offset realized gains, and up to $3,000 of net losses can offset ordinary income, with the rest carried forward.
- Buying substantially identical securities within 30 days before or after a loss sale triggers the wash sale rule, including purchases in IRAs.
- Losses only matter in taxable accounts; trades inside IRAs and 401(k)s have no current tax effect.
- Harvesting lowers basis, so it defers tax rather than removing it in many cases.
Should you evaluate a Roth conversion this year?
- Conversions are taxed as ordinary income in the year completed, so they must be done by December 31.
- Lower-income years can leave room in lower brackets, while higher income can raise 2028 Medicare IRMAA premiums.
- Early retirees on marketplace insurance should note that enhanced ACA credits expired after 2025, so added income can cost credits.
- Conversions cannot be undone, so project the full-year income first with your CPA.
How did charitable giving rules change for 2026?
- Itemizers can deduct charitable gifts only to the extent they exceed 0.5% of AGI, starting in 2026.
- For taxpayers in the 37% bracket, the tax benefit of itemized deductions is capped at 35%.
- Non-itemizers can deduct up to $1,000 single or $2,000 joint of cash gifts to public charities, but not to donor-advised funds.
- Giving long-held appreciated shares generally avoids capital gains tax on them, and gifts must be completed by December 31.
What about RMDs and QCDs?
- RMDs begin at 73, or 75 for those born in 1960 or later; the first can wait until April 1 of the next year, doubling that year's income.
- A missed RMD faces a 25% excise tax, reduced to 10% if corrected within the correction window.
- At 70½ or older, qualified charitable distributions of up to $111,000 in 2026 can go from an IRA directly to charity and count toward your RMD.
- QCDs are excluded from income, which can also help with IRMAA and taxation of Social Security.
Key takeaways
- Deferrals, trades, conversions, gifts, and RMDs generally must be completed by December 31.
- IRA and HSA contributions for 2026 can wait until the April 2027 filing deadline.
- New 2026 charitable rules change the math for itemizers and non-itemizers alike.
- Project the full year with a CPA before acting; Rubric coordinates the investment side.
Related Topics
Tax Planning
Tax-Loss Harvesting: A Complete Guide
Tax-loss harvesting means selling investments below cost to realize losses that offset gains and up to $3,000 of ordinary income a year.
Retirement PlanningRoth Conversions: When They Can Make Sense and What They Cost
A Roth conversion moves pre-tax retirement money into a Roth IRA. You pay income tax now in exchange for tax-free qualified withdrawals later.
Retirement PlanningMaximizing Your 401(k) Contributions
For 2026, you can defer $24,500 to a 401(k), plus $8,000 at 50+ or $11,250 at ages 60 to 63; total contributions from all sources cap at $72,000.