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June 4, 2019
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Gifting securities from ira to 501 c was to pass without adding to gross distribution totals in 2016. correct yes or no?

  • June 4, 2019
  • 1 reply
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brokage list securites  transfer as 7 normal dist

Best answer by Hal_Al

Yes.

But, it's not a simple matter of ignoring it. A 1099-R with code 7 is correct. You then have to tell TurboTax to tell the IRS that you made a QCD (Qualified Charitable Distribution). It will be part of the follow up interview after entering the 1099-R.

See previous questions at:

https://ttlc.intuit.com/questions/3177194-how-enter-on-my-from-1040-charitable-contributions-qcd-mad...

https://ttlc.intuit.com/questions/3652363-i-made-a-qcd-from-conventional-ira

1 reply

Hal_Al
Hal_AlAnswer
Employee
June 4, 2019

Yes.

But, it's not a simple matter of ignoring it. A 1099-R with code 7 is correct. You then have to tell TurboTax to tell the IRS that you made a QCD (Qualified Charitable Distribution). It will be part of the follow up interview after entering the 1099-R.

See previous questions at:

https://ttlc.intuit.com/questions/3177194-how-enter-on-my-from-1040-charitable-contributions-qcd-mad...

https://ttlc.intuit.com/questions/3652363-i-made-a-qcd-from-conventional-ira