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Retirement tax questions
Just entered a 1099-R for a Traditional IRA with the taxpayer's age as 72 and code 7 in box 7. Designated all of the distribution as an RMD and where asked if any amount was for a QCD entered $2,000. Completed the 1099-R section with no errors.
On the Form 1040 Line 4b QCD was entered and the remaining taxable amount not designated as QCD was entered on 4b.
Delete the Form 1099-R and then re-enter manually. Carefully review and answer the follow-up questions for the distribution.
March 12, 2023
9:37 AM