BNS Posted March 21, 2008 Report Share Posted March 21, 2008 Have a client who is beneficiary of her son's IRA. Rec'd 1099R, Box 1 (gross) & 2a (taxable) are same amounts. Both 2b areas are checked (taxable amt not determined, total distribution) Box 7 - dist code 4. Client had trustee do direct transfer to a qualified charitable organization and received acknowledgment for the same amount as in Box 1. Client is 87 years old. Question #1, although she is beneficiary, (I assume this is hers to do with as she pleases) but find no specific examples. Can this IRA still be donated & not taxed to her, would claim no income/ no deduction on Sch A ...Question #2, In pub 590, indicates to enter QCD next to line 15b, how can I do that and efile or does it sound like return must be paper filed ...(client owes a balance anyway) add additional explanation? Thank you for input. Quote Link to comment Share on other sites More sharing options...
taxtrio Posted March 21, 2008 Report Share Posted March 21, 2008 In ATX, on 1099R Input screen, enter 1099R exactly as you have it, then scroll down to the very bottom of the input screen--- you won't be able to see this part of the input screen unless you scroll down--- and enter the amount of qualified charity distribution on proper line. Check front page of 1040, it will show correctly. I just tried it out of curiousity... I haven't had one yet, but I like to learn new things. Thanks for the question. P.S. Quote Link to comment Share on other sites More sharing options...
BNS Posted March 21, 2008 Author Report Share Posted March 21, 2008 In ATX, on 1099R Input screen, enter 1099R exactly as you have it, then scroll down to the very bottom of the input screen--- you won't be able to see this part of the input screen unless you scroll down--- and enter the amount of qualified charity distribution on proper line. Check front page of 1040, it will show correctly. I just tried it out of curiousity... I haven't had one yet, but I like to learn new things. Thanks for the question. P.S. Thank you for the info ...guess it would pay to look over all the input screens before tax season starts ...didn't even think to look on the 1099R, always amazing how the programmers can get find a way to accomodate changes in tax law ...glad I don't have their job !! Happy Easter .. S.J. Quote Link to comment Share on other sites More sharing options...
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