How to input Sec. 408(d)(8) charitable contribution directly from IRA

lenaeng0930 · ‎June 4, 2019

The financial institute will be sending the RMD directly to the charity, but has indicated the 1099-R code will remain a "Normal Distribution". How do we input this donation so that it remain excluded from taxable income? Here is an article explaining the tax situation: http://www.thetaxadviser.com/newsletters/2016/apr/charitable-ira-distributions.html

IreneS · ‎June 4, 2019

What amount did the financial institution in box 2a - Taxable Amount?

If they put zero, then you're fine and don't have to do anything. The distribution is not included in your taxable income.

If they included the distribution in the taxable amount, then you have two options:

Ask the financial institution for a corrected 1099-R with zero as the taxable amount.
File your return and take a charitable deduction on Schedule A.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

How to input Sec. 408(d)(8) charitable contribution directly from IRA