on a QCD there is no 4b line to enter amount. Where do we enter information?

[jessal49]

do you know why??? Or how to enter QCD information on turbotax

[VolvoGirl · Accepted solution]

Line 4b is on the 1040 return and it will be zero taxable for a QCD. Enter the 1099R exactly as shown and one if the followup questions will ask if it was a QCD.  

Enter a 1099R under
Federal Taxes
Wages & Income
Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start

[rjs]

After you enter the 1099-R, proceed through the interview. It will ask you a series of questions about the IRA distribution. One of the questions will be about "Transfer to Charity?" That's where you begin to enter the information about the QCD.

[jdg12345]

After entering the 1099-R info, I did not get the questions shown on this message that allow me to account for the QCD.  My distribution from one IRA included both taxable and non-taxable proceeds, but can find no method in TurboTax to account for that.  Support team did not have answers either, and the only answer was to pay for the tax adviser service which i dod not need.  I just need to know how to get it into the TurbTax app. Any assistance is appreciated.   

[VolvoGirl]

Are you over 70 1/2?  What code is in box 7 on the 1099R?   After you enter the 1099R keep going.   One of the screens will ask….Transfer to Charity.  

[jdg12345]

Thanks. - yes, over 70 1/2, and box 7 has the 7 distribution code, and 2b has the box checked for 'taxable amount not determined'.  The questions that you mention when entering the 1099-R do not appear for me.  I even deleted that 1099 entry and re-entered it, and I never get to the series of questions you mention.  

[jdg12345]

Also, I am using the web version of TurboTax, not sure if it configures any differently from the local app loaded to a pc.  

[VolvoGirl]

Couple things to check.   Are you married?  Is your spouse under 70 1/2?  Check if the 1099R is assigned to you.  Also, the box IRA/SEP/SIMPLE must be checked.

[jdg12345]

Yes, married.  Spouse is not under 70 1/2, and yes to boxes checked.  And yes, 1099-R is assigned to me.  I learned from Schwab that they do not differentiate nor provide a code for the QCDs on their 1099-R, so it has to show up somehow on the line 4a-4b solution of the 1040 where you can show taxable amount of the distribution in 4b as less than the total distribution in 4a.  Also am wondering about the TurboTax automatic use of the 1040SR based on my age....does that SR version of the 1040 generate different questions than the regular 1040? 

.  

[AnnetteB6]

No, the questions are not different for Form 1040 or Form 1040SR.  

Be sure that the distribution in question comes from an IRA account and that the IRA/SEP/Simple box on the Form 1099-R has been checked.  Otherwise, the QCD questions will not appear.  

Additionally, if you were not over age 70 1/2 in 2024, then the QCD would not apply.

@jdg12345 

[nobodywasfaster]

okay. that gets me through TurboTax.  what tells the govmint that a nontaxable qcd has been made? secret code on what form? or do they assume there's a qcd in there somewhere by process of elimination and arithmetic? (say i was filing by hand and not by TurboTax, wwjd?)

[rjs]

@nobodywasfaster 

The abbreviation QCD will be printed on Form 1040 line 4b. The taxable amount on line 4b will be less than the total distribution amount on line 4a.