How do I report a QCD from my IRA?

Forum|Forum|7 years ago
June 4, 2019
2 replies
1 view

Can you point me to the place in the Turbotax narrative where this issue is covered?

TurboTax Deluxe Online

macuser_22

Alumni - Champ

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

After the RMD questions.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

slake3702gmailcom

Level 2

Problem is brokerage put QCD on 1099-R as income. First answer to problem was enter 0 in box 2a followed by QCD. Program and 1040 form does not allow letter entries. Asked again and was told it would be dealt with in the interview. Went through the interview and it was not. So what is the right answer?

pdwtn

Level 2

I have the same question-

JosephS1

Level 8

After you enter/import your 1099-R TurboTax will ask if any portion of your distribution was transferred to charity if: your birthdate entered into TurboTax indicates that you were at least age 70 1/2 by the end of the tax year, the Form 1099-R has code 7, and the IRA/SEP/SIMPLE box is marked, the question will appear if it was a QCD. The following links should prove helpful:

IRS reminders to owners age 70 1/2 or older

What is a Qualified Charitable Distribution

@pdwtn

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