Permalink Submitted by John Michael Hall on Wed, 2023-04-19 17:39
Nevermind, Alan. I found some posts from 2020 and 2022 that explain the benefit of lowering AGI. Unless there is anything new for 2023, this is enough info. Thanks!
Permalink Submitted by Alan - IRA critic on Wed, 2023-04-19 17:51
Yes, nothing has changed. QCDs have the same advantages as always. There might be a few cases where there was no benefit from reducing AGI and a non QCD donation could be fully itemized in amounts exceeding the standard deduction, all this would do is generate an equal result, not a superior outcome. For IRAs with basis, a QCD also leaves more basis in the IRA for future use by treating the entire QCD as pre tax.
Permalink Submitted by John Michael Hall on Wed, 2023-04-19 17:39
Nevermind, Alan. I found some posts from 2020 and 2022 that explain the benefit of lowering AGI. Unless there is anything new for 2023, this is enough info. Thanks!
Permalink Submitted by Alan - IRA critic on Wed, 2023-04-19 17:51
Yes, nothing has changed. QCDs have the same advantages as always. There might be a few cases where there was no benefit from reducing AGI and a non QCD donation could be fully itemized in amounts exceeding the standard deduction, all this would do is generate an equal result, not a superior outcome. For IRAs with basis, a QCD also leaves more basis in the IRA for future use by treating the entire QCD as pre tax.