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Confusing QCD vs. Charities entry

If you have entered a 1099-R for an RMD and made QCDs from that income, where are the QCDs entered? Not talking about the entry questions when entering the 1099-R. Where does specific information for QCDs get entered? 

 

Under the 'Walk me through everything' approach in the Deductions & Credit section, on the 'Your charities and donations' page, TT has no specific details on what source of donation should be entered. By 'source' I mean a QCD donation or a donation made from a non-RMD/1099-R source.

 

More details at this page identifying what should be entered at this page would be extremely helpful.

 

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3 Replies

Confusing QCD vs. Charities entry

Sorry but you do enter the QCD under the 1099R entry.

 

After you enter form 1099-R keep going.   If you have entered a birth date which makes you older than 70 1/2  there will be a page that asks Do any of these situations apply? Midway down is Were any of these funds sent directly to a charity?   Then it will ask for the amount.

 

The code in box 7 of form 1099-R must be 7 (or new code Y) and the little IRA/SEP/SIMPLE box must be checked.  A IRA QCD should be 0 taxable on 1040 line 4b and the QCD box checked.  Unless you have other 1099R taxable amounts on 4b.  You can’t do a QCD from a 401K.

 

For QCD there is a new checkbox on the 1040 line 4.   

4a is the amount of the IRA distribution.   

4b is the taxable amount.   

4c has 3 checkboxes.  Checkbox 2 is for QCD.   

Confusing QCD vs. Charities entry

And the Deductions & Credits section does not need to know about a QCD because it is not a deduction.   It is not part of your taxable income in the first place.   

dmertz
Level 15

Confusing QCD vs. Charities entry

Specific details of a QCD are not to be included anywhere in you tax return.  In the unlikely event that the IRS questions the QCD, they will ask for supporting documentation.

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