ProConnect HelpIntuit HelpIntuit

1099-R IRA Distributions transferred to Qualified Charity

by ProConnect Tax Online Updated 1 year ago

The Pension Protection Act of 2006 provides that an individual who has attained the age of 70 & 1/2 can instruct an IRA plan trustee to make a transfer of IRA distributions to a Code Section 170(b )(1)(A) charitable organization, and exclude up to $100,000 of such distributions from income, instead of claiming the contributions as an itemized deduction subject to AGI limitations.

To enter in the program:

  1. Go to the Input Return tab.
  2. On the left navigation menu, select Income > Pensions, IRAs (1099-R).
  3. Enter the Payer, Gross Distribution, and Taxable Amount as normal.
  4. Click the Details button to view more input options.
  5. Scroll down to the Other Information section.
  6. Locate the Charitable IRA Distributions subsection.
  7. Enter the amount in IRA distributions transferred to qualified charity.
ProConnect Tax

Sign in now for personalized help

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads