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New Member
posted Mar 6, 2024 7:36:08 AM

I gave 100% of my minimum distribution to a qualified charity. How do I enter this to zero out the number on line 1B?

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1 Best answer
Level 15
Mar 6, 2024 8:48:32 AM

See the Online screen shots that employee MarilynG1 posted
https://ttlc.intuit.com/community/after-you-file/discussion/re-qcd/01/3186042#M732644

 

To qualify as a QCD, the distribution must have taken place DIRECTLY from the account trustee to the charity.  It's ok for them to send you a check made out to the Charity that you then mail to the Charity.   Withdrawing funds and then making your own contribution to a charity DOES NOT qualify as a QCD. If that was done, then you have a potentially taxable distribution and a potentially deductible charitable contribution.

 

3 Replies
Level 15
Mar 6, 2024 7:45:31 AM

When you report your 1099-R line 2b will show the taxable amount. Don’t change it. On the next screen you’ll be asked if any was given to charity. Enter the amount there and you won’t be taxed on the distribution. 

Level 15
Mar 6, 2024 8:43:21 AM

Here are the IRS rules for a Qualified Charitable Distribution: https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity

 

Note that the distribution must be made directly to the charitable organization rather than distributed to the owner and then transferred to the charity. 

Level 15
Mar 6, 2024 8:48:32 AM

See the Online screen shots that employee MarilynG1 posted
https://ttlc.intuit.com/community/after-you-file/discussion/re-qcd/01/3186042#M732644

 

To qualify as a QCD, the distribution must have taken place DIRECTLY from the account trustee to the charity.  It's ok for them to send you a check made out to the Charity that you then mail to the Charity.   Withdrawing funds and then making your own contribution to a charity DOES NOT qualify as a QCD. If that was done, then you have a potentially taxable distribution and a potentially deductible charitable contribution.