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Part of my IRA distribution was contributed directly to a qualifying charity. Only the total distribution is shown on my 1099R. how do I enter the QCD in Turbo Tax?

 
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Level 2

Part of my IRA distribution was contributed directly to a qualifying charity. Only the total distribution is shown on my 1099R. how do I enter the QCD in Turbo Tax?

You will enter the 1099R exactly as you received it and then in the questions that follow, if this is RMD it will ask if had a QCD and then you enter the amount of the QCD and the 1099R will then not be added to taxable income.

You also however cannot take a charitable contribution for the QCD.

To enter pension and annuity Payments (1099-R)
•    Click on Federal Taxes
•    Click on Wages and Income
•    Click on I'll choose what I work on (if shown)
•    Scroll down to Retirement Plans and Social Security
•    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

The QCD questions will come up after the 1099R entry.



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Level 2

Part of my IRA distribution was contributed directly to a qualifying charity. Only the total distribution is shown on my 1099R. how do I enter the QCD in Turbo Tax?

You will enter the 1099R exactly as you received it and then in the questions that follow, if this is RMD it will ask if had a QCD and then you enter the amount of the QCD and the 1099R will then not be added to taxable income.

You also however cannot take a charitable contribution for the QCD.

To enter pension and annuity Payments (1099-R)
•    Click on Federal Taxes
•    Click on Wages and Income
•    Click on I'll choose what I work on (if shown)
•    Scroll down to Retirement Plans and Social Security
•    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

The QCD questions will come up after the 1099R entry.



View solution in original post