No you cannot enter a Qualified Charitable Distribution as a charitable donation. Make sure you answer the followup questions after entering the 1099-R to indicate how much of the distribution was for QCDs.
The QCD amount is excluded from taxable income so you can't also take a deduction for it.
No you cannot enter a Qualified Charitable Distribution as a charitable donation. Make sure you answer the followup questions after entering the 1099-R to indicate how much of the distribution was for QCDs.
The QCD amount is excluded from taxable income so you can't also take a deduction for it.
No. You already got the deduction by not including the RMD as taxable income on your return. And with the Standard Deduction being higher now you might not be itemizing anymore. But you still get to exclude it from your income in addition to the Standard Deduction.
I sent my RMD's from my IRA and a death benefit IRA directly to two charities for 2021.
Do I claim this as money I received? where do I indicate it on my tax return?
Is there a place to list RMD's and also if they are donated instead of claimed?
Thanks
Yes, you can post all of this information in the Retirement income area.
This is how to post a 1099-R
Login to your TurboTax Account
Click "Wages & Income" on the top
Scroll down to "IRA, 401(k), Pension Plan Withdrawals (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue"
From here TurboTax will walk you through entering your Form 1099-R
These questions will include charitable donation and RMD Information.
Once you complete the first one you can Add Another 1099-R