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11400: 1099-R - Qualified Charitable Distribution (QCD)


1040 Individual

How do I enter a Qualified Charitable Distribution (QCD) in Drake Tax?

 

Open the 1099 screen. Enter a QCD by selecting the Special Tax Treatments tab at the top of the screen and choosing Box 2 100% QCD up to $100,000 or entering an amount under Box 2 partial QCD up to $100,000.


Notes:

  • The limit per person is $100,000.
  • If the 1099-R is entered as an IRA and Box 2 100% QCD up to $100,000 is marked, only amounts in excess of the $100,000 will flow to Form 1040
  • A Qualified Charitable Distribution (QCD) is generally a nontaxable distribution made directly from an IRA by the trustee.
  • Per Pub 590 instructions, you cannot claim a charitable contribution deduction for any QCD not included in your income.

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