IRA custodians have a new 1099-R code 'Y' box to complete for QCD's. I have a SCHWAB IRA account with check writing privileges. All of the checks I write and distribute qualify as QCD's. My none QCD distributions are done via EFT direct deposit. SCHWAB advises me that they do not intend to review my check payees to determine their 501(C)(3) eligibility so the 1099R they issue to me will have zero in the new "Y" box. What can Turbo Tax do to assist customers in this situation? FYI: way over half of my IRA distributions qualify as QCD's.
