Pension Protection Act 0f 2006

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  • RLymanC
    Senior Member
    • Sep 2005
    • 653
    #1

    Pension Protection Act 0f 2006

    An individual over the age of 70 1/2 designates his IRA distribution as a "charitable rollover"
    to a qualified 501(c)3.

    Is the rollover reported as income and deducted on Sch.A or is it not reported at all.
    Confucius say:
    He who sits on tack is better off.
    Tags: None
    • Bird Legs
      Senior Member
      • Jun 2005
      • 990
      #2
      IRA Distributed directly to 501(c)(3)

      It is not reported on the 1040. Client should receive a 1099, however, reporting this
      info.

        Comment

        • TAXBILLY
          Junior Member
          • Oct 2006
          • 24
          #3
          It is reported on the 1040 ...

          It is reported on the 1040 just like any other rollover. Amt goes on line 15a and zero is shown on line 15b.
          taxbilly

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