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New Member
posted Mar 27, 2023 7:22:47 AM

Where do I list my charitable donations from my 401K account?

I am 76 and make donations directly to charities from my 401K.  I see where Turbo Tax lists the taxable amount of my 401K distributions with a QCD note.  But do I need to list all the donations?

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2 Replies
Level 15
Mar 27, 2023 8:02:50 AM

You are confused about something.  401(k)s and IRAs are different types of retirement accounts, and QCDs are only permitted to be made from an IRA, not from a 401(k).  If the Form 1099-R provided by the payer has the IRA/SEP/SIMPLE box marked (which seems to be the case if you entered the form correctly into TurboTax), the distribution is from an IRA and is reportable as a QCD.  No other documentation is required with your tax return beyond the "QCD" notation on line 4b of Form 1040.

 

If the distribution was indeed from a 401(k) and the Form 1099-R provided by the payer does not have the IRA/SEP/SIMPLE box marked (contrary to the way you seems to have in marked on TurboTax's 1099-R form), the charitable contribution is not excludible from line 5b Form 1040 and your AGI, and your charitable contribution must be reported on Schedule A the same as you would a charitable contribution not made from some other source of funds.

New Member
Mar 27, 2023 11:14:55 AM

You are right!  It is an IRA.  When I retired, I rolled the 401K into an IRA.  I was surprised that the IRS doesn't require a list of the donations.  Thanks for your answer!!