Question

In Which Tax Year Do I Recognize a QCD?

Forum|Forum|4 years ago
January 8, 2022
1 reply
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I ordered QCD checks on December 30, 2020, but didn't receive and distribute them until 2021. Do I recognize these QCDs on my 2020 or 2021 tax returns?

Hal_Al

Employee

What was the date on the checks?

Did you get a 2020 1099-R for the QCD distribution?

What date does your year end IRA account statement say the funds came out of your account?

Q. Do I recognize these QCDs on my 2020 or 2021 tax returns?

Simple answer: whatever year the 1099-R was issued for.

But you may have a bigger question: did you meet your 2020 RMD requirement (not applicable if you were under 72, and over 70.5)?

"For a QCD to count towards your current year's RMD, the funds must come out of your IRA by your RMD deadline, generally December 31." Reference: https://www.fidelity.com/building-savings/learn-about-iras/required-minimum-distributions/qcds