IRAs for two

Forum|Forum|5 years ago
January 22, 2021
1 reply
3 views

Between us we have 3 IRAs, 2 for her, one for him. He is 1 year older and RMD happened for him in 2018. RMD would have happened for her in 2020. But the rules changed and RMD for her was moved to 2021 - next year. We had already planned for her to withdraw enough for her RMD in the form of a checking account used for charities.

Since RMD is now not required for her, the question regarding charity does not appear, and the 1099-R does not reflect the charity option anyway.

Is the easiest way to handle this to take the income from that IRA and then deduct the amount on Schedule A?

dmertz

Level 15

2020 TurboTax presently (version R14) has a bug the prevents it from asking the necessary QCD question for those with a birthdate between July 1, 1949 and June 30, 1950. As a workaround for this, with the CD/download version you can provide the QCD-amount information on the 1099-R in forms mode or in any version of TurboTax you can temporarily change your birthdate in TurboTax to something before July 1, 1949, edit the 1099-R form in TurboTax and answer the question asking how much was transferred to charity, then change your birthdate in TurboTax back to your actual birthdate.

David KinzelAuthor

Level 2

Thank you.

So I've moved on and discovered that I cannot enter Social Security info for her. The fields are there, but inaccessible. Any clues?

David KinzelAuthor

Level 2

Well. There is an anomaly where the imported tax file, say from a previous year, has a DETAIL screen that has entries as details. The fields which are not accessible for typing directly into can only be reached when one double-clicks the entry to get to the DETAIL lines to actually add data...