BillM223
Expert Alumni

Deductions & credits

It's a "Qualified Charitable Distribution" where certain taxpayers can have retirement funds transferred directly to a charity, count it as part of their RMD, and not have to report the distribution as income nor have to deduct the charitable contribution on Schedule A.

 

In the 1099-R interview, did you see a screen with the title of "Transfer to Charity"? This is where you would enter that you had this amount transferred to a charity.

 

NOTE: a QCD can come only from an IRA, not from a retirement plan like a 401(k).

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