topic Re: FRe: Be sure to run a software update. in Retirement tax questions

How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answers which don't match up with how the 1099-R form works. Please help.

mjmh — Fri, 07 Jun 2019 23:50:22 GMT

I have made qualified charitable distributions from my IRA. The system does not ask me if I have those types of distributions even though I have checked the box for IRA/SEP/Simple. I don't know how to enter the qualified amount so that it reduces the taxable amount of my distributions.

Be sure to run a software update.

SweetieJean — Fri, 07 Jun 2019 23:50:23 GMT

Be sure to run a software update.

If you are the IRA participant, for TurboTax to ask if an...

dmertz — Fri, 07 Jun 2019 23:50:25 GMT

If you are the IRA participant, for TurboTax to ask if any portion of your distribution was transferred to charity, your birthdate entered into TurboTax must indicate that you were at least age 70½ by the end of the tax year, the Form 1099-R must have code 7, and the IRA/SEP/SIMPLE box must be marked.

If you are the beneficiary of the IRA of a deceased individual and the Form 1099-R has code 4 with the IRA/SEP/SIMPLE box marked, in addition to your birthdate indicating that you were age 70½ or older at the end of the tax year, TurboTax incorrectly requires that you indicate that the deceased participant would have reached age 70½ by the end of the tax year as well.

The questions in the screen shots that Critter#2 posted c...

rjs — Fri, 07 Jun 2019 23:50:26 GMT

The questions in the screen shots that Critter#2 posted come after you click Continue on the screen where you enter the 1099-R information. As Critter#2 said, you have to continue through the interview screen by screen. The screen that asks whether you transferred any of the distribution to charity doesn't say "QCD," but that's what it's about. If you answer that you transferred part of the distribution to charity, the next screen will ask you how much was transferred to charity. The next screen after that will tell you that the amount you specified is designated as a QCD. That last confirmation screen is the only place that you will actually see the term QCD.

I beg to differ ... you may wish to delete the 1099-R and...

Critter — Fri, 07 Jun 2019 23:50:30 GMT

I beg to differ ... you may wish to delete the 1099-R and enter it again .... if you indicated it was an IRA distribution and you are over the age of 70.5 then the following screens about RMD & QCD do appear in the interview if you continue screen by screen ...

Re: The questions in the screen shots that Critter#2 posted c...

bobreil — Fri, 07 Feb 2020 21:52:39 GMT

My situation is a bit different. I am just filling out the 1099-R worksheet (not using the interview). I fill in the worksheet right from the source 1099-R. I put in the QCD amount and put $0 taxable but it shows as pink (error). How do I clear the pink error?

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answ...

DianeC958 — Sat, 08 Feb 2020 15:25:23 GMT

To clear the pink error put $1 into the box as the taxable amount. By doing this your tax will not change and it should clear the error.

@bobreil

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answ...

ThomasM125 — Sun, 23 Feb 2020 20:34:33 GMT

It is advisable to follow the question and answer process in TurboTax, it will usually save you time in the long run and insure that your information is processed properly.

Re: The questions in the screen shots that Critter#2 posted c...

PlamFrond — Thu, 27 Feb 2020 18:02:36 GMT

Likely my bad but this gave me a problem. I transferred ALL of my RMD to charity. Your post got me to it being accepted as a QCD. Later screen asked for required amount of RMD and how much I actually received. My thinking was since I had the entire amount sent directly to the charity I received $0. Wrong. For entry, I "received" the entire amount even though I never got any of it. Guess I took the question too literally.

Re: The questions in the screen shots that Critter#2 posted c...

ColeenD3 — Sat, 29 Feb 2020 16:47:32 GMT

@PlamFrond

The IRS advises thus:

To report a qualified charitable distribution on your Form 1040 tax return, you generally report the full amount of the charitable distribution on the line for IRA distributions. On the line for the taxable amount, enter zero if the full amount was a qualified charitable distribution. Enter "QCD" next to this line

The program will need the amount to put as the full amount before it can record the non-taxable amount.

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answers which don't match up with how the 1099-R form works. Please help.

bergiejk — Sat, 07 Mar 2020 17:30:21 GMT

I received a 1099-R from Fidelity for a QDR. Box 2a shows the full amount of $2500 as taxable. How do I post to TurboTax to ensure I am not taxed on that amount?

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answ...

MaryK4 — Sat, 07 Mar 2020 19:04:31 GMT

After you enter the 1099-R information, you must continue and you will see the screen below- this is where you can add the QCD information.

@bergiejk

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answers which don't match up with how the 1099-R form works. Please help.

abcxyz — Mon, 16 Mar 2020 18:34:35 GMT

how do I enter qualified charitable distributions in Turbo Tax?

Re: How do you enter a qualified charitable distribution in Turbo Tax? I have looked a prior answ...

DaveF1006 — Mon, 16 Mar 2020 18:43:15 GMT

As you enter your 1099R information into your TurboTax return, you should come to a screen that says; here you can indicate if you transferred to charity and if the transfer was for the entire or partial amount.

Re: The questions in the screen shots that Critter#2 posted c...

colemanje — Sun, 22 Mar 2020 17:07:05 GMT

turbo tax interview questions do not ask me how much of my Ben IRA RMD I donated to charity. What do I do now?

Re: The questions in the screen shots that Critter#2 posted c...

DaveF1006 — Sun, 22 Mar 2020 19:00:34 GMT

if you are over 70 1/2 and if you selected yes to the question that asks if some or all of this withdrawal is an RMD, the very next question will ask if there is a Transfer to Charity. This is where you will enter the information.

Re: The questions in the screen shots that Critter#2 posted c...

colemanje — Sun, 22 Mar 2020 21:00:21 GMT

This a beneficiary IRA and it just asks if the person was born before 1947, which they were. It does not give me the option to donate the RMD, so I went to the form and did it there, but it comes up red, which I was expecting, and it does not give me the option to override, so it will come up on the review.

Re: The questions in the screen shots that Critter#2 posted c...

DMarkM1 — Mon, 23 Mar 2020 17:38:26 GMT

First, yes in the desktop version the QCD question does not come up as in the online version.

Try this:

In the desktop version delete the 1099R and start over in step-by-step re-entering the 1099-R information. Be sure you have indicated it is an IRA as well and the distribution is RMD and all RMD.

Next, in forms mode find the specific form 1099-R in question. Enter the QCD amount in the line that reads "Enter distributions made directly by the trustee to a qualified charitable organization."

Handling a QCD.

sscarl39 — Mon, 27 Apr 2020 21:33:37 GMT

The 1099-R shows just the gross distribution portion left that to be taxed. Shouldn't it show the total gross distribution for the 2019 required to take?

Re: Handling a QCD.

RobertG — Fri, 01 May 2020 18:07:28 GMT

The Required Minimum Distribution, RMD, is not shown on the 1099-R.

RMD rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs aren't required for Roth IRAs while the owner is still alive.

Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.