Skip to main content
Level 1
March 25, 2020
Question

RMD Partcal distribution

  • March 25, 2020
  • 2 replies
  • 19 views

How do I this as a Qualified Charitable Distribution  in turbo tax?

    2 replies

    Level 15
    March 25, 2020

    To be a qualified Charitable Distribution, your Form 1099-R must have code 7, and the IRA/Simple box must be checked.  In addition, you must be at least age 70 1/2 (according to the date of birth in TurboTax) at the end of the tax year.  As you enter your 1099-R, you will be asked any of your distribution was transferred to charity.  If you answer yes,the next screen will ask how much you transferred to charity. The next screen will let you know that the amount you transferred to charity is designated as a QCD (if you qualify for a QCD). This is the only place that you will actually see QCD mentioned.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    Hal_Al
    Level 15
    Level 15
    March 26, 2020

    The designation QCD will also appear on line 4 of form 1040.