I made a Charitable Gift that was funded from my IRA. The entire amount was the Required Minimum Distribution that I would be normally added to my income. However, since this was a Charitable Gift then the entire amount should be excluded from my gross income. The problem is that my 1099R states that this was a "Normal Distribution".
How do I show on Turbotax that this amount should be excluded from income?
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I made a QCD too last year. After you enter the 1099R keep going and it will ask if it was the RMD and then if you made a QCD.
I made a QCD too last year. After you enter the 1099R keep going and it will ask if it was the RMD and then if you made a QCD.
Make sure the little IRA box is checked between boxes 7&8. I made you 2 screen shots from my Windows program. Should be similar in the Online version
Then you get the QCD question
This worked. Th
It is not clear from your question exactly how the contribution was made. QCDs must be made directly by the trustee of the IRA to the charity. An IRA distribution, such as an electronic payment made directly to the IRA owner, does not count as a QCD. Likewise, a check made payable to the IRA owner is not a QCD.
Here are the IRS rules: https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-1000...
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