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New Member
posted Apr 5, 2024 12:09:04 PM

Take me to the part where I can deduct qualified charitable donations.

I made qualified charitable donations from my IRA.
Where can I go to deduct it?

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2 Replies
Level 15
Apr 5, 2024 12:12:10 PM

If you were over age 70 1/2 and the funds were donated from an IRA, then after you have completed entry of the Form 1099-R you will come to a screen asking if this distribution was for a charitable contribution (QCD).

 

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

 

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

 

On the screen Did you get a 1099-R in 2023? Click on Yes

On the next screen click on Continue

On the screen Let's import your tax info Click on Change how I enter my form

On the screen How do you want to add your 1099‑R? Click on Type it in myself

On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue

Level 15
Apr 5, 2024 12:46:46 PM

Enter the 1099-R, exactly as received.  A follow up question, in the interview, will allow you to enter the amount of the Qualified Charitable Distribution (QCD).  TurboTax (TT) will put the total amount, of the distribution, on line 4a of form 1040  with the net taxable amount on line 4b, with the notation QCD on the dotted line.  

 

So, you do not see an actual deduction on form 1040.  Usually the difference between line 4a and 4b is the amount of the QCD.  But, if your IRA has a cost basis (previous non deductible IRA contributions) that non taxable part will also be included in the difference between 4a & 4b.