Yes, it will work in TurboTax Basic download version; however, it will also work in the TurboTax online. 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
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.
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