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Qualified Charitable Distributions
The QCD seems to be calculated incorrectly. In the 1099R Summary form, it shows my RMD was 955 (example number). It is noted in line 1e that my QCD was 955 (all of it). But then it shows my net as -955. This is also in the 1040 form, line 4a shows 955, line 4b shows QCD and a taxable income of -955. I think the taxable income should be zero.
The 1099 summary form line 7 subtracts 955 from 0 line 1c, then the taxable amount on line 10 seems to just use this rather than using line 1 minus all the letters under line 1.
Somehow my QCDs are being subtracted twice.
‎January 26, 2025
12:42 PM