topic How do I report a QCD from my IRA? in Retirement tax questions

How do I report a QCD from my IRA?

jerzieselm — Tue, 04 Jun 2019 19:25:56 GMT

Can you point me to the place in the Turbotax narrative where this issue is covered?

Enter a 1099-R here: Federal Taxes, Wages & Income (I'll...

macuser_22 — Tue, 04 Jun 2019 19:25:57 GMT

Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

After the RMD questions.

Re: How do I report a QCD from my IRA?

slake3702gmailcom — Tue, 18 Feb 2020 02:53:38 GMT

Problem is brokerage put QCD on 1099-R as income. First answer to problem was enter 0 in box 2a followed by QCD. Program and 1040 form does not allow letter entries. Asked again and was told it would be dealt with in the interview. Went through the interview and it was not. So what is the right answer?

Re: How do I report a QCD from my IRA?

pdwtn — Tue, 31 Jan 2023 14:22:34 GMT

I have the same question-

Re: How do I report a QCD from my IRA?

JosephS1 — Tue, 31 Jan 2023 15:29:12 GMT

After you enter/import your 1099-R TurboTax will ask if any portion of your distribution was transferred to charity if: your birthdate entered into TurboTax indicates that you were at least age 70 1/2 by the end of the tax year, the Form 1099-R has code 7, and the IRA/SEP/SIMPLE box is marked, the question will appear if it was a QCD. The following links should prove helpful:

IRS reminders to owners age 70 1/2 or older

What is a Qualified Charitable Distribution

@pdwtn

Re: How do I report a QCD from my IRA?

pdwtn — Wed, 01 Feb 2023 14:48:02 GMT

Thank you. I use Turbo Deluxe. Last year was the first time we used QCDs so this is new to me.

After reading your response, I took the actual 1099R (1 and 2a have the same amount) and started a new 1099R in Turbo. I saw no box for entering either the total QCD amount or the taxable portion of the 1099.

Looknig at the 1040 form 4a IRA distributions and box 4b Taxable amount. Is 4b populated from a 1099R or do I input the number (RMD-QCD)? If it is auto populated from the software, where does the total come from?

Tks

Re: How do I report a QCD from my IRA?

pdwtn — Wed, 01 Feb 2023 15:03:15 GMT

Ignore today's message/question, I figured this out by actually entering the 1099R- sorry to have bothered you.