Also note that the amount of a QCD cannot exceed the amount of your IRA that would be taxable if your entire balance in traditional IRAs was distributed by year end. Any more than that transferred to charity must be reported as a Schedule A deduction.
For example, if you have a traditional IRA balance of $30,000 and $20,000 of that is basis, transferring $25,000 to charity will result in a $10,000 QCD and a $15,000 Schedule A charitable deduction (assuming no investment gains or losses by year end on the $5,000 remaining in the IRA). None of the distribution will be taxable. In this situation you would have to calculate the QCD amount and Schedule A deduction amount yourself; TurboTax does not do this calculation for you.
