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You don't list the charities in your tax return.
You indicate that the distribution is designated as a nontaxable Qualified Charitable Distribution (QCD) in the questions that follow the 1099-R entry screen:
Yes, the amounts distributed as a QCD can be counted toward satisfying your RMD for the year, up to $100,000. The QCD is excluded from your taxable income.
To calculate your required minimum distribution, simply divide the year-end value of your IRA or retirement account by the distribution period value that matches your age on Dec. 31st each year. Every age beginning at 72 has a corresponding distribution period, so you must calculate your RMD every year.
Your required minimum distribution (RMD) is created automatically when you enter a 1099R reporting the distribution. After you enter the 1099R, there will be follow-up questions that ask about the distribution, with the RMD being one of these questions. To report the 1099R:
You don't list the charities in your tax return.
You indicate that the distribution is designated as a nontaxable Qualified Charitable Distribution (QCD) in the questions that follow the 1099-R entry screen:
Thank you for your help.
So, take a look at the screenshot I have posted and tell me how I should answer this question?
To give some clarity:
$xx,xxx was the required RMD
$y,yyy was a QCD
$z,zzz the difference was put into a non-qualified account.
Did I receive a partial RMD or the Full RMD?
Thank you again for your help.
Harry
Yes, the amounts distributed as a QCD can be counted toward satisfying your RMD for the year, up to $100,000. The QCD is excluded from your taxable income.
To calculate your required minimum distribution, simply divide the year-end value of your IRA or retirement account by the distribution period value that matches your age on Dec. 31st each year. Every age beginning at 72 has a corresponding distribution period, so you must calculate your RMD every year.
Your required minimum distribution (RMD) is created automatically when you enter a 1099R reporting the distribution. After you enter the 1099R, there will be follow-up questions that ask about the distribution, with the RMD being one of these questions. To report the 1099R:
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