topic how to report charitable contributions made from an IRA to a charity in Retirement tax questions

how to report charitable contributions made from an IRA to a charity

Don — Thu, 18 Mar 2021 18:02:27 GMT

This is the first year I made charitable contributions from an IRA directly to a charity. I also withdrew some funds directly to me. The 1099 form I received reported the total from both distributions as taxable income to me. Where on my forms do I reduce the contributions that went directly from the IRA account charity from my taxable amount.

Re: how to report charitable contributions made from an IRA to a charity

SamS1 — Thu, 18 Mar 2021 18:23:24 GMT

You need to be at over 70 1/2 to take the Qualified Charitable Distribution deduction for your withdrawal. If you are at least 70 1/2, TurboTax will ask whether a portion of your withdrawal was QCD under the Uncommon Situations screen directly after you entered the 1099R information in TurboTax Online. Please follow these steps to enter your 1099-R and QCD:

Login to your TurboTax Account
Click on the Search box on the top and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
On the "Do these situations Apply" screen, check the box "I transferred all or part of this money directly to charity"
Continue "How much did you transfer directly to charity" enter amount.
Continue answering the questions.

You can verify your entry by looking at your Form 1040 line 4 or 5:

Click on "Tax Tools" in the left menu
Click "Tools"
Click "View Tax Summary" in the Tool Center window
Click on "Preview my 1040" on the left

If you are working in TurboTax Desktop:

Enter the 1099R
You need to go to forms mode in upper right hand corner of screen.
Click on the 1099R entered
Scroll down the 1099R screen until you see the QCD
Enter the amount of your contributions..

Re: how to report charitable contributions made from an IRA to a charity

Don — Thu, 18 Mar 2021 18:57:09 GMT

Sam

I do not see anywhere a comment "Do these situations apply"?

What am Ii doing wrong?

Re: how to report charitable contributions made from an IRA to a charity

SamS1 — Thu, 18 Mar 2021 19:45:04 GMT

Are you using TurboTax Desktop? You will not see that screen in TurboTax Desktop. If you are using TurboTax Online, the screen should be right after you input your 1099R data. Check your birthdate in your "My Info" to make sure it is correct. If you are younger than 72, you might try changing your age to reflect you 72, complete the 1099R QCD screens, then change your age back.

In TurboTax Desktop, you will see this screen after you input your 1099R and continue.

Re: how to report charitable contributions made from an IRA to a charity

mmg50 — Sat, 04 Mar 2023 23:31:19 GMT

Thanks. Very helpful