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Deductions & credits
Unknown if a brokerage would report this anywhere. Distributions from a taxable account to charities is not a QCD. You have a QCD when you take a Required Minimum Distribution from an IRA account during the year and direct the IRA custodian to send $X directly from the IRA to the charity. If they send you the money and you send it to charity it does not qualify as a QCD. The 1099-R does not report a QCD. it will report the gross amount including the QCD in Box 1. In Turbotax once you enter the 1099-R it will ask if the is an RMD to which if you answer yes it will ask a further question about a QCD. Line 4a on your 1040 will then show gross , taxable and a notation QCD.
‎September 29, 2023
9:50 PM