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byom
New Member

I have qualified charity donation of $2400 deducted from my rollover ira how to report tax liability is zero for $ 2400

How to report my qualified charity donation? You
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1 Best answer

Accepted Solutions
DaveF1006
Expert Alumni

I have qualified charity donation of $2400 deducted from my rollover ira how to report tax liability is zero for $ 2400

This is the best way to enter each 1099-R. Just remember when you enter these all, you must check IRA/SIMPLE/SEP box for each of the 1099's.

  1. log into turbo tax 
  2. Go to federal>income and expenses
  3. Retirement plans and Social Security>show more 
  4. Ira (401K), pension plan Withdrawals(1099R) Start
  5. After entering your 1099R you will scroll through several screens until you reach a screen that says Tell us if any of these uncommon situations apply
  6. Here you will indicate I transferred all or part of this money directly to charity

Note: You are only eligible to do this if you turned 70 1/2 during the year and would normally need to take a RMD situation.  If you are younger than 70 1/2, this option will not appear in the uncommon situation screen.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
DaveF1006
Expert Alumni

I have qualified charity donation of $2400 deducted from my rollover ira how to report tax liability is zero for $ 2400

This is the best way to enter each 1099-R. Just remember when you enter these all, you must check IRA/SIMPLE/SEP box for each of the 1099's.

  1. log into turbo tax 
  2. Go to federal>income and expenses
  3. Retirement plans and Social Security>show more 
  4. Ira (401K), pension plan Withdrawals(1099R) Start
  5. After entering your 1099R you will scroll through several screens until you reach a screen that says Tell us if any of these uncommon situations apply
  6. Here you will indicate I transferred all or part of this money directly to charity

Note: You are only eligible to do this if you turned 70 1/2 during the year and would normally need to take a RMD situation.  If you are younger than 70 1/2, this option will not appear in the uncommon situation screen.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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