How do I enter a gift of stock from my IRA so that it records as a Qualified Charitable Distribution
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CTYankee7
Member ✭✭
I've established a category of Qualified Charitable Distributions into which cash contributions from my IRA are easily categorized. But I see no way to have a gift of a stock register in that category. In fact, I see no way to directly record a gift of stock.
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Best Answer
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I suggest entering the distribution as an ordinary cash withdrawal using a charitable rollover category created for this purpose (like Charity but not associated with a tax-line item).
Another approach is to enter a split transaction in a taxable spending account with an entry that receives the distribution from the IRA account and uses a rollover category for the donation created for this purpose (again, like Charity but this time associated with the 1099-R:Total IRA taxable distrib. tax-line item).
You may also want to consider voting for: https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-qcds-and-roth-conversions
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Answers
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I suggest entering the distribution as an ordinary cash withdrawal using a charitable rollover category created for this purpose (like Charity but not associated with a tax-line item).
Another approach is to enter a split transaction in a taxable spending account with an entry that receives the distribution from the IRA account and uses a rollover category for the donation created for this purpose (again, like Charity but this time associated with the 1099-R:Total IRA taxable distrib. tax-line item).
You may also want to consider voting for: https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-qcds-and-roth-conversions
5
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