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eprzy
New Member

I made charitable donations direct from an IRA to avoid paying income taxes. Where and do I need to list those donations?

I made charitable donations directly from an IRA to avoid paying income tax on those funds.  Where do I enter those payments, if I need to list them at all?  I also made other donations from my regular account.

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JamesG1
Expert Alumni

I made charitable donations direct from an IRA to avoid paying income taxes. Where and do I need to list those donations?

Qualified Charitable Distributions are distributions of funds from your IRA directly to the qualified charitable organization.

 

If you are an IRA participant, your birthdate entered into TurboTax must indicate that you were at least 70 1/2 by the end of the tax year, the IRS form 1099-R must have code 7 and the IRA/SEP/SIMPLE box must be marked.

 

Follow these steps to report Qualified Charitable Distribution from RMD reported on an IRS form 1099-R:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen click on Wages & income.
  • Click to the right of Retirement Plans and Social Security.
  • Click to the right of IRA 401K Pension Plan Withdrawals.
  • At the screen Did you get a 1099-R, click Yes.
  • Enter the 1099-R information
  • At the screen Where is your distribution from?, select Other distribution.
  • At the screen Do any of these situations apply to you?, select I transferred all or part of this money directly to charity.

See also here.

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