Permalink Submitted by Alan - IRA critic on Tue, 2018-09-18 00:41
You can do a QCD if you are age 70.5 or more, and that would also elimiate taxes on your RMD up to the QCD amount. If you are not yet 70.5, you can only take a taxable distribution and try to offset the tax by making a charitable contribution of that distribution and itemizing deductions. With the increased standard deduction, this might not be practical. You also will owe a 10% penalty if you are under 59.5.
Permalink Submitted by Alan - IRA critic on Tue, 2018-09-18 00:41
You can do a QCD if you are age 70.5 or more, and that would also elimiate taxes on your RMD up to the QCD amount. If you are not yet 70.5, you can only take a taxable distribution and try to offset the tax by making a charitable contribution of that distribution and itemizing deductions. With the increased standard deduction, this might not be practical. You also will owe a 10% penalty if you are under 59.5.