Qualified Charitable Distributions

BF21 — Sun, 26 Jan 2025 20:42:24 GMT

The QCD seems to be calculated incorrectly. In the 1099R Summary form, it shows my RMD was 955 (example number). It is noted in line 1e that my QCD was 955 (all of it). But then it shows my net as -955. This is also in the 1040 form, line 4a shows 955, line 4b shows QCD and a taxable income of -955. I think the taxable income should be zero.

The 1099 summary form line 7 subtracts 955 from 0 line 1c, then the taxable amount on line 10 seems to just use this rather than using line 1 minus all the letters under line 1.

Somehow my QCDs are being subtracted twice.

Re: Qualified Charitable Distributions

MaryK4 — Tue, 04 Feb 2025 00:03:22 GMT

Yes, you are correct that the 4a should not be negative. I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:

TurboTax Online:

Sign into your online account.
Locate the Tax Tools on the left-hand side of the screen.
A drop-down will appear. Select Tools
On the pop-up screen, click on “Share my file with agent.”
This will generate a message that a diagnostic file gets sanitized and transmitted to us.
Please provide the Token Number that was generated in the response.

TurboTax Desktop/Download Versions:

Open your return.
Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
This will generate a message that a diagnostic copy will be created. Click on OK and the tax file will be sanitized and transmitted to us.
Please provide the Token Number (including the dash) that was generated in the response.

*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)

topic Qualified Charitable Distributions in Retirement tax questions

Qualified Charitable Distributions

Re: Qualified Charitable Distributions