I have an IRA and have received a 1099R for that account. I have used that IRA to satisfy my RMD. I then used all of that RMD as gifts to charitable organizations. How do I show that in turbo-tax. I would like to use those contributions to lower my over all income.
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If you receive the money yourself, and then sent it to charities, and did not use the special procedure for qualified charitable distribution, then you report the charitable deductions as schedule A itemized deductions (Gifts to Charities) on the deductions and credits page.
Unfortunately, you will not benefit from any itemized deductions until the total of all of your itemized deductions is more than your standard deduction, which is about $11,500 if you are over age 65 and single, or about $26,500 if you are over age 65 and married filing jointly.
You would enter it under the Retirement section. Here are the steps:
In TurboTax online,
I guess it was not clear to me whether the taxpayer received the money themselves and then sent it to a charity, or whether the taxpayer directed the plan trustee to send the money directly to the charity.
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