2013 QCDs – How are they reported?

A client just processed a QCD from his IRA. The check was made payable to the charitable organization. He received confirmation stating that the distribution is fully taxable. when talking to the IRA custodian, I was told the client will receive a 1099 showing this as a taxable distribution.

How will the client report this on his 2013 form 1040? Does it get reported as a distribution on line# 15a, subtracting out the QCD amount for 15b? (using 2012 1040 line numbers here)



Yes, That is my understanding and the way I have done it in years past when I had QCDs. The software I used showed it as an excluded amount.   Tom D.    



Add new comment

Log in or register to post comments