IRA Charitable Contributions
My thesis is the government will wait until close to year end to declare that charitable contributions can be made from an IRA for those over 70 1/2 as they have done in one or two years in the past. They will do this to get as much of the taxes they can on required minimum distributions since many take their RMD’s before year end.
Any comment on this please?
Permalink Submitted by Alan - IRA critic on Wed, 2014-07-16 19:06
Good chance this year will follow the inefficient pattern of prior QCD expirations as you indicated. Taxpayers just need to wait well into December to take their RMD so a QCD can be used to cover it. No telling what the motive here is, probably just more Congressional dysfunction as usual.