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maxweja
New Member

Charitable contribution from IRA

I made charitable contributions directly from my IRA, but the 1099-R I got from my broker shows the entire RMD I was required to take in 2024. How do I reflect those contributions in TurboTax?

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2 Replies
MinhT1
Employee Tax Expert

Charitable contribution from IRA

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 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.

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Charitable contribution from IRA

I made you 2 screen shots from my Desktop program

 

QCD 1.jpgQCD 2.jpg

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