- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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).
**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"
March 12, 2021
8:43 PM