Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
G
Gary1392
June 26, 2024
Question

QCD and RMD

  • June 26, 2024
  • 2 replies
  • 0 views

I have made donations from IRAs ( QCDs) but at end of year  the total of QCDs plus distributions I’ve taken from IRAs exceed the RMD. How do I handle that for taxes? Age 79.  

2 replies

rjs
rjs
Employee
June 26, 2024

It doesn't matter that you exceeded the RMD. The RMD is a minimum. You can always take out more than the minimum. You don't have to report that you exceeded the minimum. You just enter your 1099-R to report the distributions, and you enter the amount of the QCDs. When TurboTax asks if you took your full RMD, you answer that you received all the RMD.

 

    N
    NCPERSON1
    June 26, 2024

    also, the QCD is not added to the distributions, it is PART OF the distribution.

      TurboTax Sign In Widget
      TurboTax flag icon

      Unlock tailored help options in your account

      Create an account
      TurboTax Expert Assist
      TurboTax Expert

      Get answers to all your tax questions

      Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

      Terms & ConditionsAccessibility statement
      Intuit
      TurboTax Credit Karma QuickBooks MailChimp

      ©1997-2022 Intuit, Inc. All rights reserved.
      Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
      of Intuit Inc. Terms and conditions, features, support, pricing, and service options
      subject to change without notice.

      Security Certification of the TurboTax Online application has been performed by
      C-Level Security.

      By accessing and using this page you agree to the Terms of Use.

      Accessibility

      TRUSTe nResult Certified e-File C-Level Security Certification