I made a QCD from an Inherited IRA. I am 73. Where do I enter the QCD in Turbo Tax ?

golddenbuffalo · ‎June 4, 2019

dmertz · ‎June 4, 2019

Proceed as follows:

Enter the code 4 2018 Form 1099-R under Wages & Income -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R).
Indicate that the distribution was from an inherited IRA.
When asked, indicate that the decedent was born before July 1, 1946, even if it is untrue. (TurboTax has a bug that the developers have declined to fix that requires TurboTax to see both the decedent and beneficiary as being over age 70½ even though to make a QCD only the beneficiary need be over age 70½ at the time of the distribution.)
Indicate how much was transferred by the IRA custodian to the charity.

herrickmd · ‎February 10, 2020

This is still an issue in 2020 for 2019 taxes. After an hour with support, they told me it "wasn't a product problem" and that I would have to pay an additional $70 to talk to a tax professional. They refused to accept it or report it as a bug. I managed to get around the bug by setting my own birth date prior to 1947 under info, add the QCD under the 1099, then change my birth date back. It kept the QCD but refused to let me efile because I had an "error". So, I'm stuck with filing by mail. Thank you dmertz for pointing me in the right direction

dmertz · ‎February 10, 2020

TurboTax is operating correctly.

To be eligible to make a QCD from an inherited IRA, you, the one for whom the account is now maintained, must be age 70½ or over. The age of the decedent is irrelevant. (The bug, now corrected, was that TurboTax was looking at the age of the decedent.)

Because you are under age 70½, you are not permitted to make a QCD. You must include the distribution in taxable income and claim a charitable deduction on Schedule A.

I made a QCD from an Inherited IRA. I am 73. Where do I enter the QCD in Turbo Tax ?

Retirement tax questions

Retirement tax questions

Retirement tax questions