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Retirement tax questions
Line 4a on Form 1040 should show the Total Distribution amount from your 1099-R.
Line 4b should show the balance (Total - QCD amount).
Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, these distributions become tax-free as long as they're paid directly from the IRA to an eligible charitable organization. QCDs must be made directly by the trustee of the IRA to the charity.
Here's more details about Reporting QCD's.
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March 4, 2024
8:56 AM