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Tracking RMD charitable donations

Grandaddy42

I track my general charitable giving with a Charitable Giving category in Quicken Home & Business. I also give directly to our church through regular charitable RMD distributions from my SEP plan, that I want to be included my giving category in my spending report, but I don't know how to record the transaction.

Any help would be appreciated!

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Comments

Jim_Harman

Please see the links in this Idea post for a strategy for handling charitable distributions (QCDs) from an IRA or similar tax deferred plan.

https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-including-qcds-and-roth-conversions

QCDs reduce your taxable income but they should not be given the same Category as regular charitable gifts because they are reported differently to the IRS.

Also please comment and vote on the idea to encourage Quicken to make improvements in this area.