1099R QCD

Forum|Forum|1 year ago
March 31, 2025
1 reply
19 views

OK, so it's entered in inc section, however , despite what I keep reading regarding TT program, it does not provide option to specify the funds as a QCD among the 15-20 choices. It does give the option to ID the funds as CRT, which is different. And there are 2 boxes to address in ID ing the nature of the funds distributed.

Please advise, in clear and specific language.

I am so weary of this program despite the money and TIME I've wasted I'm ready to trash it, despite having used it for several years, it's not improved.

Thank you

Carolyn

MayaD

Alumni - Intuit

When you enter 1099-R, you'll be asked in one of the follow-up questions if it was a Qualified Charitable Distribution.

TurboTax includes the full amount of the distribution reported on your Form 1099-R on line 4a (IRA Distributions) of your Form 1040 or 1040-SR. The taxable amount reported on Line 4b will be the total distribution less the QCD amount and will have "QCD" entered next to it.

QCDs are limited to the amount that would otherwise be taxed as ordinary income.

A distribution made directly to the IRA owner, who then gives it to a charity, doesn't qualify as a QCD.

Where do I enter my 1099-R?

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cmk27Author

Level 2

MayaD, I appreciate your response, however it doesn't resolve my problem. I'll try to be more clear:

on the 1099R form there are selections, #1-9, then alphabetical selections A-W, F being listed as Charitable Gift Annuity. None of the selections specify a CRT. Since they are distinctly different and there is no option to select the correct identification , a CRT for the total amount of the RMA, what does one do?

Also line 2 a "taxable amount" and 2 b"taxable amount not determined"are "not checked" and I'm reminded of this as I proceed through the pages to complete the form.

Line 7 "IRA/SEP/Simple" is not selected on the 1099R I received from Fidelity.

Going through the pages following the 1099Form do not mention QCD anywhere.

Please clarify.

Thank you,

Carolyn

VolvoGirl

Level 15

What is your 1099R from? While entering your form 1099-R, if you have entered a birth date which makes you older than 70 1/2 in the tax year, TurboTax will ask you if any portion of your distribution was transferred to charity. You can then enter the amount transferred to charity.

The code in box 7 of form 1099-R must be 7 and the box IRA/SEP/SIMPLE must be checked. You can’t do a QCD from a 401K.