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Gary1392
Level 1
Jun 26, 2024 4:39 PM UTC
Question

QCD and RMD

I have made donations from IRAs ( QCDs) but at end of year  the total of QCDs plus distributions I’ve taken from IRAs exceed the RMD. How do I handle that for taxes? Age 79.  

2 replies

rjs
Level 15
rjsLevel 15
Level 15
Jun 26, 2024 6:50 PM UTC

It doesn't matter that you exceeded the RMD. The RMD is a minimum. You can always take out more than the minimum. You don't have to report that you exceeded the minimum. You just enter your 1099-R to report the distributions, and you enter the amount of the QCDs. When TurboTax asks if you took your full RMD, you answer that you received all the RMD.

 

    NCperson
    Level 15
    Jun 26, 2024 7:54 PM UTC

    also, the QCD is not added to the distributions, it is PART OF the distribution.

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