When you transfer part of your IRA distribution to a charity as a Qualified Charitable Distribution (QCD), TurboTax will take your age into account and determine if you qualify to make a QCD. After you enter the information from your Form 1099-R which reports the distribution there will be some follow-up questions. One of those questions will be if the distribution was transferred to a qualified charitable organization. You can choose either all, part, or none of the distribution was transferred. This will take care of reporting the distribution correctly on your return.
Then, on your actual Form 1040, line 4a will include the amount of your distribution and line 4b will show any taxable amount ($0 if the entire distribution was transferred to the charitable organization) and the designation QCD will be shown on that line as well.
Use the following steps to get started entering your Form 1099-R that reports the distribution from your IRA:
- On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
- This opens a box where you can type in “1099-R” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
- The search results will give you an option to “Jump to 1099-R”
- Click on the blue “Jump to 1099-R” link
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