How Are IRA RMD QCD Taxes Handled in My State
I live in Arkansas and am having a hard time finding how Arkansas handles taxes on Qualified Charitable Distributions (QCD’s) to charities from our IRA RMD’s. Where might I find a clear explanation how AR income taxes handles these gifts?
Thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2021-10-22 21:47
Almost all states conform to the federal treatment, so a QCD avoids tax for both state and federal. If any question about AR, contact the state taxing authority. Southern states do not deviate from the federal rules very often, so my guess is that AR handles it the same as federal. It may start the state return using federal AGI and QCDs are not included in federal AGI or taxable income.
Permalink Submitted by Gerald D on Sat, 2021-10-23 13:48
Tax folks are not easy to find or talk to. I just tried asking my representative to provide this information. We’ll see if she does a good job.