1099R

[Jooyceor Lennard]

I have a 1099r from Charles Schwab the show in box 1 my RMD  that's correct but in box 2 it is the same #  Back in December of 19 I had C S sent 3 checks to 3 different charities  land  because of the new rules (the way I understand them you can direct them to send checks to the charities and you will not pay income tax on that amount } It seems to me the 1099R should in box to a lesser taxable amount .   Or can I just take and put the taxable amount in box 2 on the form  ( witch is 450.00 less!

[LindaBelmont]

No, just enter the 1099-R as is. As you continue through the interview Turbo tax will ask if you gave any to charity. Answer yes there and indicate the amount. Turbo tax will adjust the taxable amount at that point.  If you look at the 1040 you will see that the taxable amount is different than the amount received  and the letters QCD will be there - indicating that it was a qualified charitable distribution

[Tsing]

I did exactly like what you said.  But at the final federal tax review, Turbo Tax asked for 1099-R form and I do not know how to fill it in.  Who is the payer and who is the payee, even though the qualified charitable distribution is visible in the 1040  form line 4a and 4b with QCD printed in by Turbo Tax.  Should I just ignore the request from Turbo Tax review?

[LindaBelmont]

Do not ignore it.  It sounds like either

1 - When entering the 1099-R into turbo tax you did not enter all the fields. Go back and make sure you entered every field that is on your copy of the 1099-R from your financial institution

or

2- You have an extraneous 1099-R.  Go to the interview section on Retirement plans, IRAs and see if there is an extra 1099-R listed. If so, delete it.