QCD
Bill is 75, still working and has a 403b and an IRA. He wants to do a QCD with about $10k, but he’s not able to do it from his 403b. Can he do a direct transfer of $10k to his IRA and do a QCD from there? His RMD from the IRA is only about $2,000. Can you do a QCD for an amount larger than your RMD? Thanks
Permalink Submitted by Alan - IRA critic on Wed, 2020-05-13 20:02
He can do a QCD from the IRA in any amount he chooses up to 100k. With no RMDs in 2020 the QCD can be done without any timing concerns. It will not be taxable, but also will not reduce other taxable income like it would in an RMD year.