[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-8690":3},{"rec_id":4,"title":5,"text":6},"8690","What do I enter as a Qualified Charitable Distribution (QCD) if my IRA has a basis?","If your IRA has a basis, the amount you can claim as a QCD may be limited by the amount of your IRA that is taxable. \r\n\u003Cbr>\u003Cbr>\r\nIf the total value of your IRA, before the distribution, minus the basis of your IRA is more than the amount you transferred as a QCD, then enter the full amount of your QCD. Otherwise, enter only the amount of your IRA that is taxable (the total value of your IRA, before the distribution, minus the basis). Any remaining amount transferred as a QCD can be claimed as a charitable deduction in the \u003Ci>Itemized Deductions\u003C/i> section instead.\r\n\u003Cbr>\u003Cbr>\r\n\u003Cb>Example:\u003C/b> Jeff had a distribution of $25,000 made directly to a qualified charitable organization. The total value of Jeff's IRA is $30,000 with a $10,000 basis. The value of Jeff's IRA minus the basis is $30,000 - $10,000 = $20,000. Since this amount is less than the amount Jeff had transferred as a QCD, he should only include the $20,000 as a QCD rather than the full amount transferred of $25,000. He can include the unused $5,000 ($25,000 - $20,000) as a charitable \u003Ci>Itemized Deduction\u003C/i>.",1777391572751]