QCD

[macuser_22]

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@Cynthiad66 wrote:

Yes.  

To report a QCD in TurboTax, enter the Form 1099-R under Wages & Income -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R).  In the follow-up indicate that some or all of the distribution was transferred to charity.  TurboTax will include the entire amount on Form 1040 line 15a of Form 1040 line 11a but will exclude the QCD amount from the amount on line 15b or 11b.  TurboTax will include the notation "QCD" next to the line.

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Line 15b and 11b are for the old 1040 and 1040A that no longer exist.    The 2020 is on a 1040 and all IRA distributions will go on the 2020 1040 line 4a and 4b.

[marvsehn]

The place to enter the QCD determined amount is on the "FORM" 1099-R.  To do this you must go to FORMS when you are on the entry screen for the 1099-R info.  Then go to the bottom of the first page of the 1099-R form and you will find the area "Qualified Contribution Distribution" and will be able to fill in the information and amount.  Turbo tax will then correctly enter the data on the 1040 and show "QCD",. Turbo tax will then deduct the amount you enter as QCD from the Distribution placing the correct amount in the taxable column on the 1040.

[61james]

How do I access forms on Turbotax?  I need to add a QCD to a 1099-R.

[MarilynG1]

To access forms in TurboTax Desktop, click on FORMS in the upper right corner.

On the next screen, click on 'Open Forms' above 'Forms in My Return' and choose the 1099-R you want to edit.

Click this link for more info on Forms Mode.

If you are using TurboTax Online, you don't have access to the forms, but you can type '1099-R' in the Search area to jump to the 1099-R Summary. (You can also return to the 1099-R section this way in TurboTax Desktop). 

Choose the 1099-R you wish to Edit and go through the interview to make changes to your entries. 

The question about QCD does not come up until after you enter the 1099-R data and Continue. 

Click this link for more info on Entering QCD from Form 1099-R. 

[Edited 2/3/2022 8:08 pm]

[Kpap032023]

I had my IRA send money to charities. How do I enter QCD  in turbotax

[DoninGA]

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@Kpap032023 wrote:

I had my IRA send money to charities. How do I enter QCD  in turbotax

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Scroll to the top of this thread and Read the first answer provided.

[MarilynG1]

If you are over 70.5, when you enter your 1099-R for your IRA in TurboTax, in the follow-up questions you will be asked if you transferred funds to charity, and if so, what amount.

Here's more info on Qualified Charitable Distributions. 

@Kpap032023