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When you fill out a return reflecting the correct age of 70 1/2 (or older) during the year and enter the 1099-R RMD, keep going and on one of the following screens you'll be asked if you made a qualifying charitable contribution. It will show up on 1040 line 4b as 0 and QCD written by it. Did you already file it? You can amend.
This is from my Desktop program......
When you fill out a return reflecting the correct age of 70 1/2 (or older) during the year and enter the 1099-R RMD, keep going and on one of the following screens you'll be asked if you made a qualifying charitable contribution. It will show up on 1040 line 4b as 0 and QCD written by it. Did you already file it? You can amend.
This is from my Desktop program......
The QCD (Qualified Charitable Distribution) must be a direct transfer from the IRA to the charity. you should be asked about making them after entering the basic 1099-R information. Note if you get the RMD and personally write a check to a charity this is not a QCD. you'll get to deduct it but only as an itemized deduction on Schedule A. Then your itemized deductions must exceed your standard deduction to get a tax benefit. A QCD is not a tax credit but a reduction of the taxable portion of the RMD thus lowering your adjusted gross income. You can still use either the standard deduction or itemized deductions. but if itemizing you CANNOT include any QCD amounts.
go back to the retirement income section
IRA
go through the pages until you come to one that says transfers to charity?
select the proper option - all, some, none
continue
you'll be asked the amount that went straight to charity if it was only some of the RMD
line 4b of the 1040 should reflect the taxable amount less the QCD, yuo'll also note QCD by the line
Thank you so much! That was the answer I needed.
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