How do I report a QCD on Turbo Tax .

Forum|Forum|1 year ago
February 18, 2025
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Best answer by VolvoGirl

A QCD for Qualified Charitable Distribution from an IRA? You should have a 1099R for it.

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
If you are adding another 1099R there might be a Add button at the bottom of the list.

After you enter the 1099R keep going. One of the next screens will ask Transfer to Charity? Did you ask the Trustee to transfer all or part of this distribution of $xxx to a qualified charitable organization?

Then do NOT enter it again under Deductions & Credits.

VolvoGirlAnswer

Employee

A QCD for Qualified Charitable Distribution from an IRA? You should have a 1099R for it.

Then do NOT enter it again under Deductions & Credits.

MinhT1

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. Answer Yes to that question and 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.

TurboTax will then reduce the taxable amount by the amount transferred to charity.

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