Can donation checks count as 2013 QCD’s?
An IRA account owner over 70.5 years old wrote $2,000. in personal checks for charitable donations in Jan. 2013. It is my understanding that he can either apply these as 2012 QCD’s or as 2013 Form 1040 Schedule A deductions. He has not completed his 2013 RMD.
Q.: Could he instead count these donations as 2013 QCD’s?
Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2013-01-31 16:46
The only personal check transfers to a charity that can be reported as a QCD are amounts received in December, 2012 in an IRA distribution, up to 100k for the year. This would have to be a 2012 QCD only. He could also do a direct transfer from the IRA to charity in Jan, 2013 and count it toward either his 2012 QCD and RMD or for 2013. He cannot write a personal check as a QCD for amounts not received as an IRA distribution in December, 2012. If his 2,000 payment does not qualify as a QCD, then he can consider it as a Sch A deduction for 2013 only.