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Level 1
posted Mar 10, 2025 11:34:38 AM

2024 failure to account for QCD from RMD when made by brokerage fund IRA checks

2024 turbotax deluxe will not let me efile because 1099R from IRA RMD has not specified taxable amount of RMD.  I have $15,000 of Qualified Charitable Distributions that were made by checks from my IRA account directly to the charity.   2023 turbotax had followup questions to account for such QCDs.

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1 Replies
Level 15
Mar 10, 2025 11:45:26 AM

It works ok for me.   Double check your birthdate.   What code is in box 7? Did you check the little IRA box between boxes 7&8?  You may have missed that box.   A sure way to fix it is to delete it and enter the 1099R again Manually.  Especially if you imported it.  

While entering your form 1099-R, if you have entered a birth date which makes you older than 70 1/2 in the tax year, TurboTax will ask you if any portion of your distribution was transferred to charity. You can then enter the amount transferred to charity.

 

The code in box 7 of form 1099-R must be 7 and the box IRA/SEP/SIMPLE must be checked.

 

TurboTax will then reduce the taxable amount by the amount transferred to charity.

 

A IRA QCD should be 0 taxable on 1040 line 4b and QCD written by it.  Unless you have other 1099R taxable amounts on 4b.  

 

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 and make sure it’s right.   For a 1099R QCD check 1040 line 4a and 4b for any taxable amount.  It should say QCD by 4b and 0 taxable.