- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
When you make a Qualified Charitable Deduction (see topic at the bottom of this IRS web page) you get a 1099-R with the total distribution in box 1, and the box 2 "taxable amount" is reduced by the portion paid directly to the charity from the IRA. If all the RMD was paid to the charity, the box 2 amount should be zero.
On the line for the taxable amount, you enter "QCD". TurboTax will prompt you for whether any was donated to a charity, and complete your forms appropriately.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 14, 2020
7:53 AM