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Level 1
posted Mar 11, 2021 6:59:15 AM

IRA

My 1099R gross distribution shows $19,950  -taxable amount not determined

$16,800 was 'rollover' due to covid provisions 

$3,150 was QCD qualified charitable distributions paid directly from IRA to qualifying charities

Therefore  taxable amount should be $0.   However, when putting $0 in the taxable amount on the IRA worksheet, it comes back repeatedly for review and will not allow me to efile my returns.  Please help!! and how should I report this.

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1 Best answer
Level 15
Mar 11, 2021 9:47:58 AM

  1.  Delete the 1099-R form.
  2.  Reenter the Form 1099-R exactly as received which should have $19,950 in boxes 1 and 2a, box 2b Taxable amount not determined marked, code 7 in box 7 and the IRA/SEP/SIMPLE box marked.
  3.  Indicate that none of the distribution was RMD.
  4.  Indicate that you moved the money to another retirement account or returned it to the same account.
  5.  Indicate that you did a combination of rolling over, converting or cashing out.
  6.  Indicate that you rolled over $16,800.
  7.  Finally, when asked, indicate that $3,150 was transferred directly to the charity.

2 Replies
Level 15
Mar 11, 2021 9:47:58 AM

  1.  Delete the 1099-R form.
  2.  Reenter the Form 1099-R exactly as received which should have $19,950 in boxes 1 and 2a, box 2b Taxable amount not determined marked, code 7 in box 7 and the IRA/SEP/SIMPLE box marked.
  3.  Indicate that none of the distribution was RMD.
  4.  Indicate that you moved the money to another retirement account or returned it to the same account.
  5.  Indicate that you did a combination of rolling over, converting or cashing out.
  6.  Indicate that you rolled over $16,800.
  7.  Finally, when asked, indicate that $3,150 was transferred directly to the charity.

Level 1
Mar 11, 2021 10:36:00 AM

Thanks!  Figured it out this am just as you outlined and was able to file with $0 taxable IRA. Thank you