dmertz
Level 15

Get your taxes done using TurboTax

Assuming that this is not an inherited IRA, the code in box 7 is apparently code 7.  (This was not a yes/no question.)

 

The amount of a QCDs is not reported on Form 8606.  It is simply excluded from the taxable amount on line 4b of Form 1040 with the notation "QCD" next to the line.

 

Whatever amount distributed from your traditional IRAs that was not QCD does go on Form 8606.  To be sure that TurboTax knows the correct amount of your basis (Form 8606 line 2) and your 2019 year-end balance in traditional IRAs (form 8606 line 6), be sure to click the Continue button on the Your 1099-R Entries page, answer Yes when asked if you made nondeductible contributions to your traditional IRA for any year prior to 2019, then confirm these amounts.  (Your basis in nondeductible contributions is the amount from, generally, line 14 of your most recent previously filed From 8606.)  With the Form 1099-R and this additional information properly entered, TurboTax will correctly calculate the taxable amount of the distribution, include it on Form 1040 line 4b and will calculate the amount of basis that remains in your traditional IRAs (2019 Form 8606 line 14).