RMD and QCD

[Fotoman1]

The company that administers my IRA and the RMD this year gave me two 1099 R's.  One for the RMD and the other for the QCD.  When I import them into TurboTax it treats it as though I didn't provide the correct payment for my RMD and signifies that I have to pay a $437.00 penalty.

This is the first time the admins have done it this way and I'm wondering if this is normal and if there is a workaround for it? 

[Mike9241 · Accepted solution]

That was dumb of them since only 1 1099-R was required. On the first 1099-R, you indicate that the box 1 amount was an RMD and that the entire gross amount applies to the RMD. Do the same with the QCD, but indicate the amount of the QCD. The totals of box 1 for both should equal the RMD for the year.

The other workaround would be to combine the amounts in each box on the two so there would be only 1-1099-R in Turbotax.

[Fotoman1]

Got it.  Thank you very much!