I need to learn how to enter for a QCD transaction

ricbar27 — Thu, 06 Jun 2019 09:01:15 GMT

All you have to do is enter form 1099-R into TurboTax and...

MargaretL — Thu, 06 Jun 2019 09:01:17 GMT

All you have to do is enter form 1099-R into TurboTax and answer follow up questions. As soon as the form is entered, the program asks Transfer to charity? question. Please be sure to select if you had all or part of the distribution transferred to charity (see pic).

You qualify for a QCD if:

You are over the age of 70 and 1/2, and
the gift must be given to an organization that qualifies as charitable organization, and
it must be sent directly from an IRA to a charitable organization

1099-R form data entry:

Federal Taxes
Wages and Income
Scroll down to Retirement Plans and Social Security
Select IRA, 401(k), Pension Plans (1099-R)

Note: if you claim the distribution as a QCD, please do not enter the amount as a charitable contribution in the Deduction and Credits section. A QCD is not included in your taxable income and you can't deduct it again under charitable contributions.

topic I need to learn how to enter for a QCD transaction in Get your taxes done using TurboTax

I need to learn how to enter for a QCD transaction

All you have to do is enter form 1099-R into TurboTax and...