Can I still use turbo Tax deluxe this year as one thing has changed. We took a QCD and the small remainder left over was taxed to meet our RMD

[SweetieJean]

"our" RMD.  Did you both need to take an RMD? If so, you had to do each one separately, from your respective accounts.

[Hal_Al · Accepted solution]

Yes. Enter the 1099-R and the TurboTax (TT) interview handles this very smoothly. For example if you have  $10,000 in box 1 of the 1099-R and gave $8000 as a QCD; TT will put $2000* on line 15b of form 1040 with a QCD notation.

*$2000 assumes you have no cost basis (non deductible contributions). If you do have a basis, TT handles that too, and produces form 8606.

[dmertz]

To cause TurboTax to do this, you must indicate in the follow-up to entering the Form 1099-R that you had $8,000 (or whatever the actual amount is) transferred to charity.  Keep in mind that QCDs are only allowed from IRAs, so TurboTax will only ask this question if your distribution was from an IRA.

[SweetieJean]

Just a note that not all states recognize QCD's, so you may still owe state income taxes in the RMD.

[disabato05]

We made a QCD from husband's traditional IRA (over 70 1/2 years old).  There do not seem to be any follow up questions to this distribution to show that the total distribution was a QCD.  Have Turbo Tax Premier.  How do I get Turbo Tax to recognize this as a QCD.

[GR49]

I read an earlier reply that said you enter 10,000 on the 1099 with a 8,000 QCD & TT would put $2,000 on line 15b on the 1040.    Where do you put the 8,000 QCD so it can calculate the 2,000?

[Irene2805]

Input the information on your 1099-R as it appears on the form.  You can then indicate that it was used for a qualified charitable distribution (QCD)

To do this in TurboTax, please follow these steps:

TurboTax CD/Download

1. Enter the information from your 1099-R and click Continue.
2. After a few screens, you will see a screen, Transfer to Charity?  
3. Mark the radio button for the appropriate choice (transferred all or transferred part) and click Continue.  [See Screenshot #1, below.]
4. If you marked that a part of the distribution was transferred to charity, indicate the amount on the next screen, How Much Was Sent to Charity?  [Screenshot #2]

TurboTax Online

1. Enter the information from your 1099-R and click Continue.
2. After a few screens, you will see a screen, Do any of these situations apply to you? [Screenshot #3]
3. Mark the box I transferred all or part of this money directly to charity and click Continue.
4. On the next screen indicate the amount transferred to charity.  [Screenshot #4]

The income from the 1099-R will not be added to your taxable income.  Keep in mind that  you cannot also take a charitable deduction for this same contribution since the distribution was tax free.

Screenshot #1

Screenshot #2

Screenshot #3

Screenshot #4

@GR49

[GR49]

I do not have the 1099-R with the QCD yet.   I tried inputting last years 1099-R Data.  Which did not have a QCD info, and I never see the question about Transfer all or part of this Directly to Charity.   Can you tell me what additional data fields will be filled it on the 1099-R that will have the QFD so that I can try it out to confirm that my TT Deluxe is actually working once I get the 1099-R with the QFD data?   Thanks for the assistance.   Gary

[DaveF1006]

Make sure you have the IRA/SIMPLE/SEP box  checked on your 1099-R. if you don't, it will not appear as an option in the screen entitled Do any of these situations apply to you? 

 QCDs can be made only from traditional IRAs and traditional inherited IRAs.