I have made qualified charitable distributions from my IRA. The system does not ask me if I have those types of distributions even though I have checked the box for IRA/SEP/Simple. I don't know how to enter the qualified amount so that it reduces the taxable amount of my distributions.
If you are the IRA participant, for TurboTax to ask if any portion of your distribution was transferred to charity, your birthdate entered into TurboTax must indicate that you were at least age 70½ by the end of the tax year, the Form 1099-R must have code 7, and the IRA/SEP/SIMPLE box must be marked.
If you are the beneficiary of the IRA of a deceased individual and the Form 1099-R has code 4 with the IRA/SEP/SIMPLE box marked, in addition to your birthdate indicating that you were age 70½ or older at the end of the tax year, TurboTax incorrectly requires that you indicate that the deceased participant would have reached age 70½ by the end of the tax year as well.
The questions in the screen shots that Critter#2 posted come after you click Continue on the screen where you enter the 1099-R information. As Critter#2 said, you have to continue through the interview screen by screen. The screen that asks whether you transferred any of the distribution to charity doesn't say "QCD," but that's what it's about. If you answer that you transferred part of the distribution to charity, the next screen will ask you how much was transferred to charity. The next screen after that will tell you that the amount you specified is designated as a QCD. That last confirmation screen is the only place that you will actually see the term QCD.
I beg to differ ... you may wish to delete the 1099-R and enter it again .... if you indicated it was an IRA distribution and you are over the age of 70.5 then the following screens about RMD & QCD do appear in the interview if you continue screen by screen ...
My situation is a bit different. I am just filling out the 1099-R worksheet (not using the interview). I fill in the worksheet right from the source 1099-R. I put in the QCD amount and put $0 taxable but it shows as pink (error). How do I clear the pink error?
To clear the pink error put $1 into the box as the taxable amount. By doing this your tax will not change and it should clear the error.
It is advisable to follow the question and answer process in TurboTax, it will usually save you time in the long run and insure that your information is processed properly.
Likely my bad but this gave me a problem. I transferred ALL of my RMD to charity. Your post got me to it being accepted as a QCD. Later screen asked for required amount of RMD and how much I actually received. My thinking was since I had the entire amount sent directly to the charity I received $0. Wrong. For entry, I "received" the entire amount even though I never got any of it. Guess I took the question too literally.
The IRS advises thus:
To report a qualified charitable distribution on your Form 1040 tax return, you generally report the full amount of the charitable distribution on the line for IRA distributions. On the line for the taxable amount, enter zero if the full amount was a qualified charitable distribution. Enter "QCD" next to this line
The program will need the amount to put as the full amount before it can record the non-taxable amount.
I received a 1099-R from Fidelity for a QDR. Box 2a shows the full amount of $2500 as taxable. How do I post to TurboTax to ensure I am not taxed on that amount?
After you enter the 1099-R information, you must continue and you will see the screen below- this is where you can add the QCD information.
how do I enter qualified charitable distributions in Turbo Tax?
As you enter your 1099R information into your TurboTax return, you should come to a screen that says; here you can indicate if you transferred to charity and if the transfer was for the entire or partial amount.
turbo tax interview questions do not ask me how much of my Ben IRA RMD I donated to charity. What do I do now?
if you are over 70 1/2 and if you selected yes to the question that asks if some or all of this withdrawal is an RMD, the very next question will ask if there is a Transfer to Charity. This is where you will enter the information.
This a beneficiary IRA and it just asks if the person was born before 1947, which they were. It does not give me the option to donate the RMD, so I went to the form and did it there, but it comes up red, which I was expecting, and it does not give me the option to override, so it will come up on the review.
First, yes in the desktop version the QCD question does not come up as in the online version.
Try this:
In the desktop version delete the 1099R and start over in step-by-step re-entering the 1099-R information. Be sure you have indicated it is an IRA as well and the distribution is RMD and all RMD.
Next, in forms mode find the specific form 1099-R in question. Enter the QCD amount in the line that reads "Enter distributions made directly by the trustee to a qualified charitable organization."
The 1099-R shows just the gross distribution portion left that to be taxed. Shouldn't it show the total gross distribution for the 2019 required to take?
The Required Minimum Distribution, RMD, is not shown on the 1099-R.
RMD rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs aren't required for Roth IRAs while the owner is still alive.
Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.
Help. I ran a software update. My birthday in the profile clearly shows that I am over 70 1/2. I deleted the 1099R and reentered it. I ran through all the follow up screens in the interview process. The last screen asked if I transferred funds to another IRA or "did something else". The program never asks if I contributed any to charity. Is there any way to override this so my taxes show that I made a QCD?
If you are using the desktop version, you could but I would not recommend. Overrides are only available in the desktop versions, and by doing so revokes the TurboTax accuracy guarantee. It also prevents e-filing as well.
To reach to the screen asking about the charity, here are the steps:
In TurboTax online,
If you are still unable to resolve it, you may want to consider our TurboTaxLive ( Under Real tax experts help
or do it for you) product line to file your 2020 taxes. Once you complete your taxes, before you file, you’ll be given the option for a final review of your return by one of our tax professionals. They should be able to walk you through the process to locate the IRA charity screens.
Here are the details:
I have the same concern as "secondthimothy" about recording QCD amount. I am using the desktop Window version of TurboTax Premier 2020. Is the 1099-R screen been updated for 2020 because the state information section calling for boxes 14-16 on my 2020 1099-R from Thrivent Financial have that information in boxes 12-14.
I turned 70.5 on December 1, 2020, yet I get no question about any by my distribution being made to a qualified charity as part of the entry screens.
I also don't feel the advise to use TurboTax online as acceptable. I paid for the desktop version and expect it to work properly
from Luther 56; please disregard the question about boxes 15-17 being different than my Thrivent Financial 1099-R ( seems like Thrivent has used a different format in other years too)
Question still remains why I don't get the section to enter my QCD this year as I have passed my 70.5 birthday and made the QCD's after that 70.5 date but before the end of 2020. My birth year was 1950
I think I solved this riddle. It appears Turbo Tax has tied the QCD screens to the RMD. If you don't have to take an RMD, they don't ask about QCD. I discovered this by making Turbotax think I'm older than 72 (I changed my birthday in Turbotax) and Voila! the RMD screen now appears and after it asks about RMD it asks how much of the RMD was sent to a qualified charity. I still believe this is a programming error in the Turbotax desktop version that they should fix because anyone not up on the tax law can miss this valuable deduction.
Even though the new RMD start age is 72, if you have reached age 70½ by the end of 2020, you can still do a QCD. However, since you won't owe an RMD at this point, you cannot offset any RMD. But you can still do up to $100,000 from the IRA to a charity and not have the distribution included in taxable income.
Get with it Turbotax!