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I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

 
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7 Replies

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

QCD's can only come from an IRA, not a 401(k).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

Correct.
dmertz
Level 15

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

If the distribution was from a 401(k) (IRA/SEP/SIMPLE box not marked) and therefore is not a QCD from an IRA, the $16,000 sent to charity will need to be reported as a Schedule A charitable deduction.

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

This answer is correct.
Coleen3
Intuit Alumni

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

If you have an RMD from an IRA, you will encounter the screen as you go through the interview process. See the screenshot below.

A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your minimum required distributions (MRDs) for the year, as long as certain rules are met.

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

User is asking about a 401(k), not an IRA.
Coleen3
Intuit Alumni

I have a $69,000 401k distribution, $16,000 of which was a charitable contribution. I can't find where to enter the $16k in the 1099R income section.

That was established two days ago.
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