Does desktop TT handle QCDs?

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I have TT Premier for Windows for 2023. Does it handle Qualified Charitable Distributions? Do I have to go into Forms Mode to specify them? This will be my first year doing QCDs.

bobweissmanAuthor

Level 6

Sorry, I meant 2024, of course.

VolvoGirl

Level 15

Yes of course. All versions. And I think all Online versions do too. I started doing QCD in 2023. Very easy and common. After you enter the 1099R as normal if you are 70 1/2 it will ask if you made a QCD. Your 1099R will be code 7, same as a regular 1099R. Then it will only show up on 1040 line 4a and 0 taxable in 4b and QCD written by 4b.

rjs

Level 15

The TurboTax interview, both desktop and online, does handle QCDs, but it does not initially use that term. After you enter the 1099-R and continue through the interview it will ask whether you transferred any of the distribution to charity. It doesn't say "QCD." If you answer that you transferred part or all of the distribution to charity, it will ask you how much was transferred to charity. After you enter the amount you will get a confirmation screen telling you that the amount you specified is designated as a QCD. That last confirmation screen is the only place that you will actually see the term QCD.