ungvarys
Level 2
03-02-2022
04:32 PM
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Client takes RMD from inherited IRA. She takes a total of $81,000, $70,000 is sent directly from the broker to various qualified charities. I mark the $70,000 as QCD on the input form, but it doesn't show. The system just takes the whole $81,000 as taxable. I think it's because taxpayer is not 70 1/2, but that should not matter if from a beneficiary IRA. How do I get the program to deduct the $70,000?
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rbynaker
Level 14
03-02-2022
06:55 PM
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You must be 70 1/2 or older to qualify for a QCD.