My financial institution says that since the requested RMD is a Qualified Charitable Distribution (QDC), there is no tax liability. Therefore, a 1099-R is not required and will not be issued to me. The same transaction was processed in 2023 and a 1099-R was issued to me and the total amount of that QCD was listed in the "taxable income" box. Turbo Tax translated this entry with a QCD notation on my 1040 tax form. I think the IRS may have finally gotten its act together and realized that the QCD is NOT taxable and should not be reported on a 1099-R. Eventually, the IRS may make another box that will reflect this situation and allow the use of a 1099-R as a way of reporting a RMD!! My problem still remains. Turbo Tax seems to be behind the times as I can't find a way to show the QCD on my return.
