When having a Qualified Contribution Distribution (QCD) taken in conjunction for a MRD, is there any supporting documentation required by the IRS that needs to be attached to the normal forms filed? It seems to me that just filing in the box for QCD’s amount on the 1099-R form wouldn’t be enough for the IRA. Thanks for any help with this.
No documentation needs to be sent with your tax return. Since any amount reported as a QCD must otherwise be eligible to be deductible on Schedule A (without regard to whether or not you actually itemize), you need to keep in your personal records any documentation that you might need to establish to the IRS, if they ask, that the charitable contribution would have been deductible.
I appreciate the two answers above. Thanks so much for the responses. This forum is good for help with IRA’s.
For donations of $250 or more the donor must still receive a contemporaneous acknowledgement from the charity that no goods or services, other than intangible religious benefits, were given to the donor in exchange for the contribution. Further, it seems like a good idea not to use a QCD for a quid-pro-quo donation where the donor receives something of value in exchange, such as concert admission or a dinner.
Permalink Submitted by tomd37 on Wed, 2018-01-31 12:52
To the best of my knowledge no supporting documentation is required other than placing the letters QCD on line 15b in front of the line number itself. I use TaxSlayer PRO and it places the letters there provided I have entered the data correctly. I make and keep a copy of all QCD checks before I mail them to the charity. Tom D.