1099R QCD

[Randall]

Has something changed in the ATX input of a QCD on the 1099R screen?  I put the taxable amount from the 1099R and check below the QCD and put the amount in the box.  But it doesn't subtract when carrying over to the 1040.  And the 1099R summary page doesn't show a line for subtracting the QCD.  The only way I can make it work is enter the taxable amount after subtracting the QCD amount.

[GLJEANNE]

I think I had to do just that last week, enter the correct Taxable Amount myself.  But as long as the QCD box is checked, it shows correctly on 1040.

[Randall]

Thanks.  I figured it out too.  In my case, there is a little basis, so I had to use Form 8606.  I had to  enter the taxable amount.  But the 1099R summary page doesn't have that line from last year showing a deduction of the QCD amount.

[Hahn1040]

the QCD does not reduce your basis:  from Pub 590:  . If your IRA includes nondeductible contributions, the distribution is first considered to be paid out of otherwise taxable income.