Charitable donation from IRA
Under the recent law,the IRS is again permiting an IRA owner at 70.5 years old to make a direct gift to a charity up to $100,000 as part of his RMD. If most of his assets are still in the 401k, is there anyway this can be accomplish this year as the RMD has to come from the 401k.
Permalink Submitted by Alan - IRA critic on Thu, 2013-02-21 22:09
Not this year unless he already has some TIRA assets. If the 401k is rolled over after taking the RMD, there will be an IRA balance on 12/31/2013 and the IRA RMD for 2014 might be used as a 2014 QCD if Congress extends QCDs again. But he probably will not know about the extension until Dec 2014 if Congress repeats their recent pattern.