First, make sure the IRA box is checked in the program. As you proceed through the interview section, you will encounter the screenshot below.Can I make a QCD? Whilemany IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactiveplans only), and SIMPLE (inactive plans only)* —there are requirements: You must be 70½ or older to be eligible to make a QCD. QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions. The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.) For a QCD to count towards your current year’s MRD, the funds must come out of your IRA by your MRD deadline, generally December 31.

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Where do I enter QCD as part of my MRD?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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Best answer by SweetieJean

Enter the 1099-R in Federal > Wages and Income > Retirement. There will then be questions, including one about QCD's.

Just be aware that not all states recognize QCD's, so you may still owe state taxes.

S

SweetieJeanAnswer

Employee

Enter the 1099-R in Federal > Wages and Income > Retirement. There will then be questions, including one about QCD's.

Just be aware that not all states recognize QCD's, so you may still owe state taxes.

C

Coleen3

Employee

First, make sure the IRA box is checked in the program. As you proceed through the interview section, you will encounter the screenshot below.

Can I make a QCD?

While many IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only)* —there are requirements:

You must be 70½ or older to be eligible to make a QCD.
QCDs are limited to the amount that would otherwise be taxed as ordinary income. This excludes non-deductible contributions.
The maximum annual amount that can qualify for a QCD is $100,000. This applies to the sum of QCDs made to one or more charities in a calendar year. (If, however, you file taxes jointly, your spouse can also make a QCD from his or her own IRA within the same tax year for up to $100,000.)
For a QCD to count towards your current year’s MRD, the funds must come out of your IRA by your MRD deadline, generally December 31.