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Retirement tax questions
In step-by-step mode, if the birthdate that you enter for yourself (or for your spouse if it's your spouse's QCD) into TurboTax indicates that you were age 70½ or over during the tax year and you enter a Form 1099-R with code 7 in box 7 and the IRA/SEP/SIMPLE box marked, TurboTax will ask if you had any of the distribution transferred to charity. Entering a nonzero amount will result in TurboTax including the QCD notation next to line 4b on Form 1040. No explanation should be needed.
December 20, 2023
4:46 PM