RMD
My broker sent part of my RMD directly to qualified charity. My 1099 R in boxes 1 and 2 shows full amount of RMD No where does it display amount sent directly to the charity. If I deduct amount sent to charity will the IRS write me for an explanation . Example RMD was $50000. broker sent their $25000. Check directly to charity, 1099 R shows gross distribution in both box 1 and box 2a as $50000.
Doesn’t seem correct
Permalink Submitted by Alan - IRA critic on Mon, 2023-01-23 20:27
There is no special 1099R distributon reporting for QCDs. You must self report it similar to how you would report a rollover on Form 1040. In your example, you would show 50000 on line 4a of Form 1040, 25,000 on 4b, with “QCD” entered on the line next to 4b. Tax programs will do this if you enter the QCD amount into the program.