- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I had some of my required minimum distribution transferred directly to a charity. What code do I put in box 7? What amount goes in box 2a?
Topics:
posted
February 14, 2020
8:44 PM
last updated
February 14, 2020
8:44 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I had some of my required minimum distribution transferred directly to a charity. What code do I put in box 7? What amount goes in box 2a?
You enter the Form 1099-R exactly as received from the payer.
If you were age 70½ or over and the distribution was from an IRA (with the IRA/SEP/SIMPLE box marked on the Form 1099-R provided by the payer), TurboTax will ask in a follow-up question whether or not you had some or all of the distribution transferred to charity and how much of the distribution was transferred.
If you were not age 70½ or the distribution was from some other type of retirement account, the distribution is not a Qualified Charitable Distribution and you have to claim it on Schedule A as a charitable contribution.
February 15, 2020
4:40 AM
Still have questions?
Make a post