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howardlee2
New Member

Age 58 with inherited IRA. I made qualified charitable contributions sent directly from Vanguard for most of the RMD. no place in turbo tax to reflect this. please advise

I am 58 BUT have an inherited IRA from which I must take a RMD. Turbo tax doesn't prompt me regarding my qualified charitable distributions and they assign me a full tax obligation. Where can I imput this information to get my tax credit?

3 Replies
dmertz
Level 15

Age 58 with inherited IRA. I made qualified charitable contributions sent directly from Vanguard for most of the RMD. no place in turbo tax to reflect this. please advise

This is not a Qualified Charitable Distribution because you have not reached age 70½.  This distribution is taxable to you and the amount sent to charity is reportable as a deductible charitable contribution on Schedule A in the same manner as if the distribution had been paid to you and you had given the cash to the charity.

dmertz
Level 15

Age 58 with inherited IRA. I made qualified charitable contributions sent directly from Vanguard for most of the RMD. no place in turbo tax to reflect this. please advise

(To be a QCD, the individual for whose benefit the account is maintained must be age 70½ or older at the time of the direct transfer to the charity.)
PSR
Level 1

Age 58 with inherited IRA. I made qualified charitable contributions sent directly from Vanguard for most of the RMD. no place in turbo tax to reflect this. please advise

Your answer is very clear and much appreciated. It applies to my issue perfectly. It seems a bit unfair that the QCD allowance depends on my wife's age even though the RMD results from the age of her mother when she died. I suppose no one has ever said the IRS rules are all fair, but this seems illogical. Thank you for your answer!

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