Answer the same way described above. Indicate that the entire amount of the distribution was for the RMD. Here is additional information on entering Qualified Charitable Donations (QCDs):
You...
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Answer the same way described above. Indicate that the entire amount of the distribution was for the RMD. Here is additional information on entering Qualified Charitable Donations (QCDs):
You report a QCD in the 1099-R entry section.
After entering the 1099-R details, there are a series of screens with questions about the distribution. You need to go through all the screens/questions. Do not exit the 1099-R entry section before answering all the questions.
When asked "Did you transfer all or part of this money directly to charity?", select Yes.
Enter the exact amount of the distribution that was transferred directly to the charity.
TurboTax will report the full distribution on Form 1040, Line 4a, but will not include the QCD portion in the taxable amount on Line 4b.
A direct transfer of funds from your IRA custodian, payable to a qualified charity is referred to as a Qualified Charitable Distribution (QCD). QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met. While the QCD amount is not taxed, you may not then claim the distribution as a charitable tax deduction.
Here are the requirements for making QCDs:
You must be 70½ or older to be eligible to make a QCD.
QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
For a QCD to count towards your current year's RMD, the funds must come out of your IRA by your RMD deadline, generally December 31.
Any amount donated above your RMD does not count toward satisfying a future year's RMD.
Funds distributed directly to you, the IRA owner, and which you then give to charity do not qualify as a QCD.