qualified charitible distribution

Forum|Forum|5 years ago
February 17, 2021
3 replies
6 views

I imported my documents from my brokerage showing a withdrawal from my IRA. ALL of that money went to qualified charitable distributions directly from my brokerage. However, my turbotax doesn't seem to accept the donation amount, indicating the distribution can't be greater than the withdrawal--which it isn't. What am I doing wrong

CatinaT1

Level 15

You need to be at over 70 1/2 to take the Qualified Charitable Distribution deduction for your withdrawal. If you are at least 70 1/2, TurboTax will ask whether a portion of your withdrawal was QCD under the Uncommon Situations screen directly after you entered the 1099R information in TurboTax Online. Is this where you are entering it?

If you are, I would delete the 1099-R and re-enter it.

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hrzAuthor

Level 2

Thank you for your reply. I was able to solve the problem by typing in the information when I was in the process of checking my return. It seems like everything either did not import from my brokerage or Turbo Tax does a random check. I had never encountered that in years of using Turbo Tax and importing information. Strange.

dmertz

Level 15

Improper importing of information is not all that uncommon. Payers don't always format these electronic transfers of information in a way that is compatible with TurboTax. You must always review what is imported and correct any importing errors.