Charitable Contribution and MDR
When I donate part of my IRA to a charitable organization, say a church using directly transfer from my IRA account to the charitable organization account, will that donation count be part of my yearly Minimum Distribution Requirement?
Permalink Submitted by Alan - IRA critic on Mon, 2016-06-27 18:29
Yes, as long as you have not already taken out your RMD. You must have reached 70.5 to the day before you can do a QCD, and then your QCD should be done before taking any other portion of your RMD. You will then only be taxed on the amount of your RMD that is greater than the QCD.