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How to mark an IRA distribution as a qualified charitable deduction (QCD) in Lacerte

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How to mark an IRA distribution as a qualified charitable deduction (QCD) in Lacerte

Follow these steps to enter an IRA distribution as a qualified charitable deduction:

  1. Go to Screen 13.1, Pensions, IRA Distributions (1099-R).
  2. Click on Add or select the appropriate payer from the left navigation panel.
  3. Under the Payer Information section complete the applicable fields.
  4. Scroll down to the Form 1099-R section.
  5. Enter the applicable amounts as reported on the 1099-R.
  6. Check the IRA/SEP/SIMPLE box.
  7. Scroll down to the Other Information section.
  8. Locate the Charitable IRA Distributions subsection.
  9. Enter the amount of charitable contribution in IRA distributions transferred to qualified charity.
    • This entry will reduce the amount on 1040, line 4b by the amount entered and print "QCD" beside it.
  1. Go to Screen 1, Client Information.
  2. Scroll down to the Taxpayer Information section.
  3. Make sure the Date of Birth field is entered correctly.
    • The taxpayer must be 70 1/2 or older.
  4. Go to Screen 13.1, Pensions, IRA Distributions (1099-R).
  5. Scroll down to the Form 1099-R section.
  6. Make sure there's an entry for (2a) Taxable amount.
  7. Make sure the IRA/SEP/SIMPLE box is checked.

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