Submitted By: someone
Answered: April 21, 2017 8:48 am

I’m 73 years old and transferred money from my IRA directly to a public charity. The amount of the transfer covered my required minimum distribution. Where do I report this?

If the distribution is a qualified charitable distribution (QCD), enter the total distribution on line 15a of Form 1040. Then, if the total amount distributed is a QCD, enter -0- on line 15b. If only part of the distribution is a QCD, enter the part that is not a QCD on line 15b, assuming that the IRA was funded entirely with deductible contributions. Enter “QCD” next to line 15b.

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Tax Glossary

Acquisition debt

Debt used to buy, build, or construct a principal residence or second home and that generally qualifies for a full interest expense deduction.

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