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posted Nov 21, 2024 3:02:37 PM

I âm donating 100% of IRA RMD automatically to a qualified charity. Where do I indicate this? Can I still use the married filing jointly standard deduction also?

The donation will be direct. I never touch the funds.

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1 Best answer
Level 15
Nov 21, 2024 3:20:17 PM

Yes you can still take the Joint Standard Deduction.  After you enter the 1099R it will ask  if you made a QCD Qualified Charitable Distribution.  That's all you do.  It will show up on 1040 line 4a but not be taxable and put QCD by 1040 4b.

4 Replies
Level 15
Nov 21, 2024 3:09:57 PM

You will be able to indicate that the amount of the IRA withdrawal was for QCD in the section for reporting a Form 1099-R.

You can still file your tax return as Married Filing Jointly.  The QCD does not affect your filing status.

 

The 2024 TurboTax desktop editions will have the section for entering a Form 1099-R available on 01/11/2025.

 

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

 

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

Level 15
Nov 21, 2024 3:12:06 PM

When you report your 1099-R you will be asked if any and how much was a qualified charitable contribution. 

Level 15
Nov 21, 2024 3:20:17 PM

Yes you can still take the Joint Standard Deduction.  After you enter the 1099R it will ask  if you made a QCD Qualified Charitable Distribution.  That's all you do.  It will show up on 1040 line 4a but not be taxable and put QCD by 1040 4b.

Level 15
Nov 21, 2024 3:22:06 PM

Here's a screen shot from last year