turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I had my RMD sent to charity. Turbo Tax is not asking if all or part of the RMD was sent to charity. I do not want to pay taxes on this RMD. I have updated Turbo Tax.

Why is the above question - Is all or part of the RMD sent to charity missing in Turbo Tax?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I had my RMD sent to charity. Turbo Tax is not asking if all or part of the RMD was sent to charity. I do not want to pay taxes on this RMD. I have updated Turbo Tax.

Primary issue might be a checkbox:

Go back an edit the 1099-R and make sure the "IRA/SEP/SIMPLE" box is checked on the main form.
___________________
IF it was not from an actual IRA account, then no charity question is asked, as it is not an allowed  QCD...and would need to be entered separately by you as a charity donation in the charity section.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Coleen3
Intuit Alumni

I had my RMD sent to charity. Turbo Tax is not asking if all or part of the RMD was sent to charity. I do not want to pay taxes on this RMD. I have updated Turbo Tax.

Please see the screen shot at the bottom. The program does ask if some or all of it was donated..

Can I make a QCD?

While many IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* —there are requirements:

  • You must be 70½ or older to be eligible to make a QCD.
  • QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
  • The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
  • For a QCD to count towards your current year’s MRD, the funds must come out of your IRA by your MRD deadline, generally December 31.

Any amount donated above your MRD does not count toward satisfying a future year's MRD.


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies