If you are over age 70½ and have an amount transferred directly from
an IRA to charity, the otherwise taxable amount (up to $100,000) is
excluded from your taxable income as a Qualified Charitable
Distribution.
The Form 1099-R from the financial institution will
report a regular distribution. Nothing on this form will indicate that
the distribution was transferred to charity. When entering this Form
1099-R into TurboTax, in the follow-up questions you'll need to enter
the amount that was transferred to charity. TurboTax will exclude this
amount from the amount reported on Form 1040 line 15b or Form 1040A line
11b and will include the notation "QCD" next to the line.
