dmertz
Level 15

Retirement tax questions

All versions of 2023 TurboTax handle QCDs correctly.

 

If the Form 1099-R has code 4 or 7 in box 7, has the IRA/SEP/SIMPLE box marked and the recipient of the Form 1099-R was born on or before July 1, 1953 as indicated in the Personal Info section, 2023 TurboTax will provide the opportunity to indicate how much of the distribution was QCD.  In the online version of TurboTax on the Do any of these situations apply to you page, TurboTax will provide a checkbox to mark to indicate that the amount shown on the Form 1099-R includes a QCD.  The CD/download version of TurboTax will explicitly ask if any amount was transferred to charity.   TurboTax will exclude the QCD amount from the amount on Form 1040 line 4b with the "QCD" notation next to the line.