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Retirement tax questions
The Form 1099-R will report a regular distribution regardless of a QCD. The financial institutions normally does not indicate that the distribution was transferred to charity. When entering this Form 1099-R into Turbotax, there will be questions related to the amount donated directly to charity. Turbotax will exclude this amount from Form 1040 line 15b or Form 1040A line 11b and will include the notation "QCD" next to the line.
You must be over age 70.5 and the amount must be directly donated to the charity from the financial instituion. The amount qualifies as meeting RMD yet will reduce the taxable amount of the IRA distribution.
Once entered via the 1099-R interview you don't report the amount as charitable contributions as the income won't be reportable and that would be double dipping.
QCD has no impact on the 1099-R reporting.
I hope this was helpful.
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