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Deductions & credits
You do report the 1099-R for your Qualified Charitable Distribution (QCD), but then you indicate that it was used for a QCD.
To do this in TurboTax, please follow these steps:
TurboTax CD/Download
- Enter the information from your 1099-R and click Continue.
- After a few screens, you will see a screen, Transfer to Charity?
- Mark the radio button I had all of this distribution transferred to charity and click Continue.
TurboTax Online
- Enter the information from your 1099-R and click Continue.
- After a few screens, you will see a screen, Tell us if any of these uncommon situations apply.
- Mark the box I transferred all or part of this money directly to charity and click Continue.
The income from the 1099-R will not be added to your taxable income. Keep in mind that you cannot also take a charitable deduction for this same contribution since the distribution was tax free.
ā€ˇFebruary 11, 2021
7:49 AM