Are you age 70 1/2 or older? Is the distribution on the Form 1099-R from an IRA? If so, did you click on the box IRA/SEP/SIMPLE? If so, then after you have entered the 1099-R there will be a series of screens where one will ask Do any of these situations apply to you? You should have selected I transferred all or part of this money directly to charity
Did you do this?
Actually the age is 70 1/2.
While entering your form 1099-R, if you have entered a birth date which makes you older than 70 1/2 in the tax year, TurboTax will ask you if any portion of your distribution was transferred to charity. You can then enter the amount transferred to charity.
The code in box 7 of form 1099-R must be 7 and the box IRA/SEP/SIMPLE must be checked.
After you enter the 1099-R, look for the screen below to indicate that you donated to a charity.
No-- this is from an inherited IRA from my mom who passed last year. She was >80, but I am only 62. Since the 10 year rule applies for inherited IRA's, my plan was to make QCD from this account
I don't get the option for QCD if I use my actual birthdate. If I change my Bday so older than 70 1/2 I have the option, but not if I use my actual birthdate which is younger than 70. It is an inherited IRA from my mom
Sorry it has to be your own IRA not inherited. What code is in box 7? Is it a 4?
Yes -- there is a 4 in box 7. It then asks if this is an inherited IRA, so I marked this yes. And then asks information on my moms age, but doesn't give me the option of marking as QCD.
Because you yourself have not yet reached age 70½, you are not eligible to make a QCD. Your mother's age is not a factor in determining whether or not you are eligible to make a QCD. The requirement is based on the age of the individual "for whom the account is maintained," in this case you.
You are only permitted to claim the charitable deduction as a deduction on Schedule A.