QCD & the First Dollar Out Rule
I’ll be 72 in 2019.
My 2019 TIRA RMD = $4,000.00
I have only one TIRA account.
I took one $2,000.00 [before tax] withdrawal out of my TIRA so far in 2019.
If I have my TIRA custodian make a $2,000.00 check payable to my church and mail the check to my home address; and then I deliver the check to my church, will this second $2,000.00 withdrawal (payable to my church) qualify as a QCD for 2019 and complete my 2019 RMD?
Thank you in advance for your help.
Permalink Submitted by Alan - IRA critic on Tue, 2019-02-26 19:42
Yes. Your 4000 RMD will be completed, but only 2,000 will be taxable due to the QCD.