Charitable contribution in excess of QCD
I have a client with a small IRA, she wants to know what the benefits (if any) would be to contributing to a charity in excess of her RMD.
Any insight is greatly appreciated.
Mike
I have a client with a small IRA, she wants to know what the benefits (if any) would be to contributing to a charity in excess of her RMD.
Any insight is greatly appreciated.
Mike
Permalink Submitted by Alan - IRA critic on Thu, 2017-11-30 00:36
A QCD can be less than, equal to, or more than the RMD for an IRA. If the intent is to donate more than the RMD, a QCD is still the best way to do it because the entire QCD amount will not be included in AGI. Even if client can itemize deductions donating through a QCD will likely reduce taxes more.