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.

Tax Glossary

Revenue ruling

A revenue ruling is the Commissioner’s “official interpretation of the interpretation of the law” and generally is binding on revenue agents and other IRS officials. Taxpayers generally may rely on published revenue rulings in determining the tax treatment of their own transactions that arise out of similar facts and circumstances.

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