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New Member
posted May 4, 2021 8:35:11 PM

I received rmd from charles schwab for 2020. I donated it all to charity. How do I show that on my tax return?

Do I add it to charitable deductions?  The information did not change the amount of my refund, so I'm wondering how to account for this donation.

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3 Replies
Level 15
May 4, 2021 8:56:04 PM

Did you donate it yourself or did you have Schwab do a QCD transfer from Schwab directly to the charity and you never touched the money?

 

 

New Member
Apr 15, 2022 3:11:58 PM

I had the brokerage issue the check directly to the charity

Expert Alumni
Apr 15, 2022 3:27:49 PM

This is called a QCD or "qualified charitable distribution".

 

Enter the 1099-R that you received. Answer the questions that follow. When you see "What did you do with the money?", answer "I did something else with it." TurboTax should next ask you if you transferred this to charity, and if you say YES, it will want to know how much.

 

@davidsund2803