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Enter 1099-R qualified charitable distributions

An IRA account holder, age 70 1/2 or older, can directly transfer, tax-free, up to $100,000 per year to an eligible charitable organization. Distributions from employer-sponsored retirement plans, including SIMPLE IRAs and Simplified Employee Pension (SEP) plans, are not eligible. When determining whether the owner has met the IRA's needed minimum distribution rules, the application counts the distribution amounts. Refer to Publication 590-A and Publication 590-B for further details.
To enter qualified charitable distributions, complete the following steps.
  1. Go to the
    1099R
     screen in the
    Retirement
     folder.
  2. Enter the information from the 1099-R related with the qualified charitable distribution. If there's more than one 1099-R for this client, you can add a unit for each.
  3. Go to the
    1099R-3
     screen. If there are multiple 1099-Rs, select the unit of the
    1099R-3
     screen that matches the 1099-R the charitable distribution came from.
  4. Enter the amount of the charitable distribution in the
    Qual. charitable distribution
     field.
Once you enter an amount in the
Qual. charitable distribution
 field:
  • Form 1040 Line 4a will have the acronym QCD displayed.
  • You'll use the charitable distribution amount to reduce the taxable amount of the IRA distributions that you enter on the
    1099R
     screen.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Retirement
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