Qualified Charitable Distribution (QCD), 2013
I understand if someone makes a QCD this year, that the distribution does NOT count as income.
Is it also true that the donor does NOT get a charitable deduction either?
KLM
I understand if someone makes a QCD this year, that the distribution does NOT count as income.
Is it also true that the donor does NOT get a charitable deduction either?
KLM
Permalink Submitted by Alan - IRA critic on Tue, 2013-04-09 16:25
Yes. Since the QCD is not included in AGI, allowing a deduction would result in a double benefit. A QCD is almost always a better option than distributing to the taxpayer and then making a deductible contribution.