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Deductions & credits
The Form 1099-R from the IRA will be entered just like any Form 1099-R that reports a QCD. After entering the Form 1099-R details, TurboTax will ask if the distribution was paid to a charity.
Distributions paid to you from the CGA will be taxable income to you, reported on a Form 1099-R issued by the annuity. You'll enter this just like any Form 1099-R from an annuity (except that some portion of the distribution might be included in box 3 to be taxed as a capital gain, unique to CGAs).
‎December 12, 2024
3:25 PM