How do I enter the transaction for sending my RMD direct to a charity from my Investment account wit

I had my RMD sent direct to a charity from my investment account without going through my bank. How dos I enter this so it shows up at tax time?

Best Answer


  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the Quicken Windows FAQ list

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    I believe what you are citing is a Qualified Charitable Distribution (QCD).  You might start here for such discussions or search the community for QCD:

  • Truman100
    Truman100 Member ✭✭
    Thanks for the help.
  • Truman100
    Truman100 Member ✭✭
    I am still having a mental block , or something. My brokerage sent a check direct to a charity from an IRA and treating it as an RMD even though I never physically saw the cash. I understand how to enter the transaction for the sale of stocks/bonds so I end up with a cash balance in my IRA in Quicken. How do I enter the transaction for the check which the Brokerage sent to the charity so that it shows up in Quicken when I run my taxc schedule for this (2020) year?
  • I enter a withdrawal from my ira . enter name of charity . use charity as category. The withdrawal will count as part of your RMD for that year but it is not deductible on itemized deductions on your tax return.
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