Does TurboTax document Qualified Charitable Distributions?

Forum|Forum|7 years ago
June 3, 2019
11 replies
75 views

No text available

TurboTax Deluxe Windows

Best answer by SteamTrain

IF you were over 70.5 in 2015.

AND IF you directed any part of your RMD to a charity (must have been done by the Account Administrator)

Then Yes, the tax software handles it......BUT, when you enter the 1099-R, you have to carefully answer the questions that follow your main 1099-R form entry...those questions ask about that transfer of part (or all) of that 1099-R distribution to charity. IF you import the 1099-R, then you will have to EDIT it to step thru those questions.

Check your form 1040 carefully to make sure the $$ are not being taxed (lines 15a,b or 16a,b on a form 1040) and that "QCD" is printed next to that line

SteamTrainAnswer

Level 15

IF you were over 70.5 in 2015.

AND IF you directed any part of your RMD to a charity (must have been done by the Account Administrator)

Check your form 1040 carefully to make sure the $$ are not being taxed (lines 15a,b or 16a,b on a form 1040) and that "QCD" is printed next to that line

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

marhill

Level 4

It only handles the situation where the administrator sends the check directly to the charity, but in my case the checks were mailed to me to be sent to the charity. Unless the question is just written poorly.

nestlee10125