QCD Blues

[JRHMD]

Just discovered that the $$$ I donated from an IRA account as QCDs for 2021 and 2022 did not reduce my AGI/tax.  1099-R Box 2a is same as Box 1.  Box 2b is checked both years.  IRA/SEP/SIMPLE also checked.

I did not see any questions from TT about a QCD while entering the info.  (Actually, as I opted for the automatic download of tax forms from my broker, maybe this is part of the problem?)

I understand the CQD concept.  I just want to understand the latest mechanics of how to get the QCD amount deducted from the amount in Box 2a -- or, at least the functional equivalent of that.

If simple enough, I will refile both years.

Thanks.

[VolvoGirl]

Was the full amount included on 1040 line 4b?  You can't change the 1099R.  After you enter the 1099R it will ask if it was a QCD and how much.   Are you taking your RMD?  You have to be 70 1/2 to do a QCD.  It won't reduce your AGI, it just won't be included in the AGI in the first place. 

What code is in box 7 on the 1099R?  

[JRHMD]

Thank you.  The amount on 1040 line 4a seems notably higher than any IRA distributions totals I calculate.  4a is blank.  TT calculations are a black box to me.

I don't recall any TT questions about a QCD, but was looking for them.  (I wonder if this would be different if I entered the 1099-Rs manually??)  I'll need to review the fine details of my returns, if I can figure out how to.

Yes, over 70.5 and taking RMDs.  Distribution code is 7.

I'm aware that QCD amounts are simply not added in to the AGI in the first place.

My broker just recently announced that many people may have not gotten that benefit based on using TT.  But even he is more than a tad confused -- and unsure how to find out.

[VolvoGirl]

Did you mean line 4b is higher than your distributions?  Line 4a can be blank if it is the same amount as 4b.   Have you filed 2022 yet?   Yes I would delete the imported 1099R and enter it manually.   You can amend your returns.   

How to Amend this year

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-curr...

How to Amend a prior year

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...