QCD for preceding year’s IRA RMD
Hi,
I turned 70.5 in 2019, but I decided to postpone taking my 2019 RMD to 2020 (before 4/1/2020). Assume my 2019 RMD is $2,000. Can I do a QCD of $2,000 between 1/1/2020 and 4/1/2020 and will this satisfy my 2019 RMD? Or must the QCD for 2019 actually occur in calendar year 2019? Thank you for your help.
Permalink Submitted by Alan - IRA critic on Mon, 2020-02-10 21:02
Yes, you can do the QCD before 4/1 and it will reduce the taxable amount of your 2019 RMD deferred to 2020 to 0. You could also do the same with your 2020 RMD by 12/31/2020 and have 0 taxable income for 2020.