Permalink Submitted by Alan - IRA critic on Fri, 2014-05-16 02:21
Congress is working on the extenders bill right now. But that does not mean it will pass. There could still be a post election push and remember that the last few times the QCD was extended it was done in December retroactively for the entire year. You could still process a distribution as if the QCD was approved if your custodian will do it and if you would contribute the same amount with or without the QCD. But if you take a non QCD distribution first, that will be applied to your RMD.
Permalink Submitted by Alan - IRA critic on Fri, 2014-05-16 02:21
Congress is working on the extenders bill right now. But that does not mean it will pass. There could still be a post election push and remember that the last few times the QCD was extended it was done in December retroactively for the entire year. You could still process a distribution as if the QCD was approved if your custodian will do it and if you would contribute the same amount with or without the QCD. But if you take a non QCD distribution first, that will be applied to your RMD.
Permalink Submitted by Alan - IRA critic on Fri, 2014-05-16 15:48
Here is what happened to the current effort to extend the expiring provisions: http://www.cchgroup.com/wordpress/index.php/tax-headlines/federal-tax-headlines/revolt-against-reid-stalls-tax-extenders-bill-in-senate/
Permalink Submitted by Maria Difalco on Thu, 2014-05-22 14:23
Alan: as always, thank you. I’ll keep checking in as HR3474 is critical legilation. I wrote-again-to Reps. and Sens and still no reply. M