Schwab says in 2025 IRA distribution 1099-R Box 7 code Y (QCD distribution) was optional so Boxes 1 and 2A are the same. Where do I tell TT to reduce taxable amount?

[NealS]

Should I manually reduce 2A by my QCD amount and change 7 to code Y?

[VolvoGirl · Accepted solution]

No do not change anything on the 1099R form.  It is taxable until you enter the QCD amount.  After you enter the 1099R the very next screen will ask - Do any of these situations apply to you?  Check the 7th box for I Transferred all or part of this money directly to Charity.  Then on a couple more screens you enter the amount after you go though the RMD questions if you are the age to take a RMD.  

[VolvoGirl · Accepted solution]

Here's a couple screen shots I just made