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Form 1099 - R

Level 1

I received form 1099-R for a SIMPLE IRA distribution.  The actual distribution was paid directly as a Charitable Contribution to the non-profit.  The 1099-R distribution code was marked as "7", normal distribution.  How do I enter the distribution so it is not subject to Federal tax?

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4 Replies 4
Level 15

Are you actually using Lacerte or are you using a different product?

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 15

@IRonMaN wrote:

Are you actually using Lacerte or are you using a different product?


Ah, I didn't even notice.

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Still an AllStar
Level 15
  1. Make your regular input for the distribution on Screen 13.1;
  2. Scroll down to the Other Information section; and
  3. Under Charitable IRA Distributions, enter the amount that was transferred to a qualified charity (which may be smaller than the distribution reported on 1099-R) on the line for IRA distributions transferred to qualified charity.

Lacerte will compute the age of the taxpayer based on the DOB entered and, if the taxpayer qualifies, the QCD will reduce the taxable amount on Line 4b and QCD will be printed on the line.

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Still an AllStar
Level 15

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.


 

Former Chump..umm... AllStar.
"the game of life is hard to play"

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