Skip to main content
March 10, 2025
Question

2024 failure to account for QCD from RMD when made by brokerage fund IRA checks

  • March 10, 2025
  • 1 reply
  • 0 views

2024 turbotax deluxe will not let me efile because 1099R from IRA RMD has not specified taxable amount of RMD.  I have $15,000 of Qualified Charitable Distributions that were made by checks from my IRA account directly to the charity.   2023 turbotax had followup questions to account for such QCDs.

1 reply

VolvoGirl
Employee
March 10, 2025

It works ok for me.   Double check your birthdate.   What code is in box 7? Did you check the little IRA box between boxes 7&8?  You may have missed that box.   A sure way to fix it is to delete it and enter the 1099R again Manually.  Especially if you imported it.  

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. 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.

 

A IRA QCD should be 0 taxable on 1040 line 4b and QCD written by it.  Unless you have other 1099R taxable amounts on 4b.  

 

If you are looking at a summary screen or review screen those show the full amount as income and lump a lot of stuff together. You need to check the actual 1040 and make sure it’s right.   For a 1099R QCD check 1040 line 4a and 4b for any taxable amount.  It should say QCD by 4b and 0 taxable.