Permalink Submitted by Alan Spross on Tue, 2010-05-11 20:26
The extenders bill that contains provisions to continue the QCD is still pending in Congress. General consensus is that this will be approved eventually, but of course the recent trend is for Congress to address many similar issues late in the tax year, and this puts a real strain on tax planning efforts.
Permalink Submitted by Alan Spross on Tue, 2011-01-04 22:47
Yes, it was extended retroactively for 2010 as part of the tax bill passed in mid December, and you can take the QCD as late as the end of January, 2011. The QCD will count toward your 2010 RMD, but only to the extent that you have not already taken your 2010 RMD. It is also extended for the 2011 year.
Permalink Submitted by Alan Spross on Tue, 2010-05-11 20:26
The extenders bill that contains provisions to continue the QCD is still pending in Congress. General consensus is that this will be approved eventually, but of course the recent trend is for Congress to address many similar issues late in the tax year, and this puts a real strain on tax planning efforts.
Permalink Submitted by Joe Ritterhouse on Thu, 2010-05-13 03:27
thanks for you help!!
Permalink Submitted by Dan Hagler on Tue, 2011-01-04 20:06
Was QCD approved for 2010…searching IRS website – I cannot seem to locate the “passed” legislation, also what about 2011…any word on this year?
Permalink Submitted by tomd37 on Tue, 2011-01-04 22:03
Extended in mid-December and includes 2011. Am sure others will post more details. My time is very limited at the moment.
Permalink Submitted by Alan Spross on Tue, 2011-01-04 22:47
Yes, it was extended retroactively for 2010 as part of the tax bill passed in mid December, and you can take the QCD as late as the end of January, 2011. The QCD will count toward your 2010 RMD, but only to the extent that you have not already taken your 2010 RMD. It is also extended for the 2011 year.