This article will assist you with marking an IRA distribution as a qualified charitable deduction (QCD) in Intuit ProConnect.
Follow these steps to enter an IRA distribution as a qualified charitable deduction:
- Go to the Input Return tab.
- From the left of the screen, select Income and choose Pensions, IRAs (1099-R).
- Click the blue Details button to expand the input screen.
- Under the Payer Information section, complete the applicable fields.
- Scroll down to the Form 1099-R section.
- Enter the applicable amounts as reported on Form 1099-R.
- Mark the checkbox labeled (7) IRA/SEP/SIMPLE.
- From the top of the screen, select Other Information.
- Locate the Other Information section.
- Scroll down to the Charitable IRA Distributions subsection.
- 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.