How do I report a 2010 qualified charitable distribution made in January 2011 on my tax return?
• including the full amount of the qualified charitable distribution (even if in excess of $100,000) made in January 2011 on line 15a; and • not including any amount on line 15b, but writing “QCD” next to line 15b. You may also have to file Form 8606, Nondeductible IRAs, with your 2010 tax return if you: • made the QCD from a traditional IRA, in which you had basis, and • received a distribution from the IRA in 2010, other than the January 2011 QCD. If you must file a Form 8606 for 2010, you must reduce the value of all IRAs reported on Form 8606, line 6, by any 2010 QCD made by January 31, 2011.
Related Questions
- Can I use the qualified charitable distribution to create a trust or gift annuity or another life income agreement from which I would benefit?
- Can a qualified charitable distribution satisfy any required minimum distributions (RMDs) I must take?
- What is a qualified charitable distribution from an IRA?
