Form 1099-R Box 7a

Code Y: Qualified charitable distribution

Optional payer code for an IRA payment intended to qualify as a QCD.

Usual federal tax treatment

The qualifying amount is excluded from income and may count toward an RMD.

The taxpayer remains responsible for proving QCD eligibility and reporting the excluded amount correctly.

Enter Box 1, Box 2a, Box 4, your age, other income, and code Y to estimate taxable income and possible additional tax.

Retirement distribution tax, rollover and QCD exclusions, withholding, and possible 10% additional tax

10% pre-59½ + income tax, first-home exception, SEPP 72(t)

Required minimum distributions, age 73 RBD, life-expectancy tables