You need to be at over 70 1/2 to take the Qualified Charitable Distribution deduction for your withdrawal. If you are at least 70 1/2, TurboTax will ask whether a portion of your withdrawal was QCD under the Uncommon Situations screen directly after you entered the 1099R information in TurboTax Online. Please follow these steps to enter your 1099-R and QCD:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R” and enter your 1099-R
- On the "Do these situations Apply" screen, check the box "I transferred all or part of this money directly to charity"
- Continue "How much did you transfer directly to charity" enter amount.
- Continue answering the questions.
You can verify your entry by looking at your Form 1040 line 4 or 5:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
If you are working in TurboTax Desktop:
- Enter the 1099R
- You need to go to forms mode in upper right hand corner of screen.
- Click on the 1099R entered
- Scroll down the 1099R screen until you see the QCD
- Enter the amount of your contributions..
