We are considering making a contribution to a qualified charity directly from our IRA. As I understand it, when we receive our 1099-R from our brokerage, they will show our total IRA distribution in box 1 which will include our QCD contribution as well as our normal distribution. Also, in box 2a they will show the same amount and the box in 2b stating "Taxable amount not determined" is checked.
So, now when I enter the information for my 1099-R into Turbotax, if I enter the same infomaton as on the 1099-R, I do not see where the QCD will be accounted for. In the IRS instructions, it says on form 1040 line 4a should be the total distribution and line 4b should be the taxable portion with "QCD" written next to the value. How do I enter this information into Turbotax? This will be a question for my 2023 taxes, but I want to know how I will handle the entry before we make the charitable contribution.
