QCD

Mar 11, 2022 Last reply: 4 years ago 2 Replies

Haven't used Freetax USA before but friend is trying to enter a QCD. Does anyone know their procedure?



tks all



bw


Form 1040 line 4a is the gross amount of the distributions, including the QCD, and line 4b is the taxable amount, excluding the QCD.

I'm using FreeTax USA also, and though I don't have a QCD for 2021 I think I recall that it defaults to setting 4b = 4a but gives you a chance to override that.

"To report a qualified charitable distribution on your Form 1040 tax return, you generally report the full amount of the charitable distribution on the line for IRA distributions. On the line for the taxable amount, enter zero if the full amount was a qualified charitable distribution. Enter "QCD" next to this line. See the Form

1040 instructions for additional information."
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FREETAXusa , makes it easy. After the 1099R next screen asks if it part or whole of a QCD, then fill in amount. Prints our QCD on line 4b or thereabouts.

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