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April 2, 2025
Question

Qualified Charitable distribution from an IRA

  • April 2, 2025
  • 2 replies
  • 0 views

How do I pair a note from my financial institution to the 1099 R for a qualified charitable distribution in TurboTax?  Also, is that possible in the Deluxe Edition or is another product required?

    2 replies

    April 2, 2025

    Unfortunately, you cannot attach most files (only a few specific) with TurboTax.   

    VolvoGirl
    Employee
    April 2, 2025

    Do you need to know how to enter a QCD?  You should have a 1099R for it.


    Enter a 1099R under
    Federal Taxes
    Wages & Income
    Then scroll way down to Retirement Plans and Social Security
    Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start
    If you are adding another 1099R there might be a Add button at the bottom of the list.


    After you enter the 1099R keep going. One of the next screens will ask Transfer to Charity? Did you ask the Trustee to transfer all or part of this distribution of $xxx to a qualified charitable organization?


    Then do NOT enter it again under Deductions & Credits.


    To qualify as a QCD, the distribution must have taken place DIRECTLY from the account trustee to the charity. It's ok for them to send you a check made out to the Charity that you then mail to the Charity. Withdrawing funds and then making your own contribution to a charity DOES NOT qualify as a QCD. If that was done, then you have a potentially taxable distribution and a potentially deductible charitable contribution.