Charitable donations
I’ve met my RMD by making charitable donations; I want to make additional charitable contributions this year. Which, if either, from a tax perspective, is a better choice: make additional donations from my IRAs or from my taxable accounts?
Permalink Submitted by Alan - IRA critic on Sat, 2018-08-04 23:46
A QCD will almost always save you more. How much more in relation to a non QCD donation depends on your individual tax situation. In the worst case scenario if you met several contingencies, the end result would be the same, but just one of those contingencies is that you already have at least as much in itemized deductions as your new standard deduction prior to adding the donation from taxable. Safer to just use the QCD. Annual limit of QCDs is 100k.
Permalink Submitted by Maria Difalco on Wed, 2018-09-12 19:59
Have any of the rules changed for 2018? Still part of RMD? Still $100,000 max? Still ok to withdraw from more than 1 IRA as long as total equals RMD or less? Thanks Mbd
Permalink Submitted by Alan - IRA critic on Wed, 2018-09-12 20:37
There have been no changes related to QCDs. However, QCDs can also be more than the RMD, just not more than 100k.