Tax Year 2020: I am 76 and took a distribution from my IRA as a QCD. I have gone through the entry several times a can't find a place to show this as a QCD.

[rjs]

Enter the information from the 1099-R into TurboTax as it appears on the 1099-R form, including the taxable amount. You do not indicate that it's a QCD on that screen. After you enter the 1099-R, proceed through the interview in sequence. It will ask you a series of questions about the IRA distribution. You will come to a screen that says "Transfer to Charity?" That's where you indicate that it's a QCD. On that screen, if you answer that you had all or part of the distribution transferred to charity, it will be shown as a QCD on your tax return.

[JulieC14]

After you have entered or reviewed the 1099R input screens, you will see a screen for Uncommon Situations.  The 4th situation down asks the question if you transferred all or part of this money directly to charity.  Make sure that box is checked. Review the My Info tab to insure your birthdate entered is correct.  Additionally:

• If you are over 70 1/2 (a requirement to make a QCD), the program asks during the IRA portion of the interview whether a portion was a QCD.
• Make sure the IRA/SEP/SIMPLE box to the right of Box 7 is checked.
• The TT Income Summary just lists the gross numbers, and is only FYI. Look at your actual tax return. Also note that not all states recognize QCD's, so you may still owe State taxes.

[Stumpified]

I  talked to 2 Turbo Tax employees last week.  They both came on to my screen could not solve my situation after lengthy efforts .  One 34 year tax expert told me that this is the first time she had ever been stumped and profusely apologized.  I made a 3rd appointment for March 1st to talk to someone else at Turbo-Tax.  I made a QCD (Qualified Charitable Distribution)  from my Vanguard IRA in 2020 as I turned 70 1/2 last year.  My 1099-R shows my entire 2020 distribution as taxable.  It does not break-out my $3000 QCD,  which was a check made out directly to a charity, as non taxable.  Otherwise, 1099-R box 2b says taxable amount not determined, box 7 says code #7 and the IRA/SEP/Simple box is checked.  My birth date (5/31/1950) is correct in MY Info.  As I work my way through the Turbo-Tax 1099-R questions, I am never asked if any portion of my distribution was a QCD.  The uncommon Situation questions do not ask if any portion of my distribution went to charity.  Can you help me??

[Stumpified]

I  talked to 2 Turbo Tax employees last week.  They both came on to my screen could not solve my situation after lengthy efforts .  One 34 year tax expert told me that this is the first time she had ever been stumped and profusely apologized.  I made a 3rd appointment for March 1st to talk to someone else at Turbo-Tax.  I made a QCD (Qualified Charitable Distribution)  from my Vanguard IRA in 2020 as I turned 70 1/2 last year.  My 1099-R shows my entire 2020 distribution as taxable.  It does not break-out my $3000 QCD,  which was a check made out directly to a charity, as non taxable.  Otherwise, 1099-R box 2b says taxable amount not determined, box 7 says code #7 and the IRA/SEP/Simple box is checked.  My birth date (5/31/1950) is correct in MY Info.  As I work my way through the Turbo-Tax 1099-R questions, I am never asked if any portion of my distribution was a QCD.  The uncommon Situation questions do not ask if any portion of my distribution went to charity.  Can you help me??

[DaveF1006]

Yes, there is a way to enter your QCD but you are going to need this workaround so tha Turbo Tax will recognize this as a Qualified Charity Distribution. 

1. After logging into Turbo Tax, go to MY INFO and change your birthdate to 05/31/1948.
2. After you do that go to federal>income and expenses>
3. Retirement plans and Social Security>show more 

4. Ira (401K), pension plan Withdrawals(1099R)>revisit

5. After you select to review your 1099-R, scroll through the next few screens until you arrive at a screen entitled Tell us if any of these uncommon situations apply>I transferred all or part of this money directly to charity

6. After you have enter the QCD information in Turbo Tax, go back to MY INFO and change your birthday to 05/31/1950.

7. I have included a screenshot what this looks like once you change the birthdate to 05/31/1948.

[Stumpified]

DaveF106,

     Wow!  I hope this works.  I am in the process of trying this out.  I got far enough that the question of whether I gave all or part to charity came up.  However, the following question came up:

Since they're over age 70 1/2 in 2020, they may have taken a required amount of money, or required minimum distribution (RMD), out of this account, or else be subject to a 50% additional tax. The RMD needs to be withdrawn each year, and the plan administrator, banker or broker usually figures out how much money must be taken out.

Because of a law change on March 27, 2020 as part of the CARES Act, required minimum distributions have been suspended for 2020 for certain accounts.

Important: If you took your RMD and later rolled it back into your account under the CARES Act, answer 'None of this withdrawal was a RMD' here. If you took your RMD as usual, go ahead and let us know below.

The entire distribution was a RMD

Only part of this distribution was a RMD

None of this withdrawal was a RMD

   

If I say the distribution was all or part of an RMD, then I am asked how much of my RMD was not taxable

Thanks,

Stumpified

 Since I am actually 70 1/2 and not 72 1/2, I did not take an RMD.  How should I answer the question above?

Thanks,

Stumpified

[rjs]

@Stumpified  You should say that none of the withdrawal was an RMD. Then the next screen will ask whether any of the distribution was transferred to charity. That's where you tell it about your QCD.

[Stumpified]

Dave,

     You are the man!  It worked!  Thank you, thank you.  I think I need a couple of beers after this one. You got my vote for tax expert #1!!!

(No Longer) Stumpified.