QCD
just want to confirm:
Sam age 70.5 years, has $100,000 in his IRA. His RMD for this year is $3,650. However, he can contribute the entire IRA of $100,000 as a QCD?
just want to confirm:
Sam age 70.5 years, has $100,000 in his IRA. His RMD for this year is $3,650. However, he can contribute the entire IRA of $100,000 as a QCD?
Permalink Submitted by Alan - IRA critic on Thu, 2016-11-17 21:11
Yes, he can contribute up to 100,000 as a QCD per year, and none of it will be in his AGI. RMD will be satisfied.