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ott17amj
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How to deduct my charitable deductions from my IRA RMD?

 
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How to deduct my charitable deductions from my IRA RMD?

If your charity qualifies, you will enter a charitable contribution from your RMD (QCD) as follows:

1.  Input your 1099-R as income.  Box 1 will be the entire amount of the distribution.  Box 2 is the entire distribution amount minus the non-taxable QCD amount. 

2.  During the 1099-R follow-up questions, you will be asked about a Required Minimum Distribution and if any part was a QCD

3.  Do not report the QCD as a charitable contribution.



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