I am 58 BUT have an inherited IRA from which I must take a RMD. Turbo tax doesn't prompt me regarding my qualified charitable distributions and they assign me a full tax obligation. Where can I imput this information to get my tax credit?
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This is not a Qualified Charitable Distribution because you have not reached age 70½. This distribution is taxable to you and the amount sent to charity is reportable as a deductible charitable contribution on Schedule A in the same manner as if the distribution had been paid to you and you had given the cash to the charity.
Your answer is very clear and much appreciated. It applies to my issue perfectly. It seems a bit unfair that the QCD allowance depends on my wife's age even though the RMD results from the age of her mother when she died. I suppose no one has ever said the IRS rules are all fair, but this seems illogical. Thank you for your answer!
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