Putting Your 2017 QCD on Your Tax Return: Four Things You MUST Know
Director of Retirement Education
- The IRA custodian does not do any special tax reporting of your QCD. They simply report the total amount of your distributions for the year.
- Your tax preparer won’t know you did a QCD unless you tell him/her. If you don’t tell them, you will be taxed on your QCD.
- You are responsible for telling IRS about your QCD transaction on your federal income tax return.
- The instructions for reporting a QCD can be found in the instructions for Form 1040 (or other form you might be using for your return). You may need to share these instructions with your tax preparer.
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