QCD Acknowledgement (IRS REGs)

Submitted by CARROLL WILLIAMS on Thu, 2018-09-27 19:30

My church is questioning their need to provide a proper acknowledgement of my RMD QCD for my annual financial gift. The 2017 IRS PUB 590B page 13 reads that I must have the same type of acknowledgement of my contribution that I would need to claim a deduction for a charitable contribution. I am then directed to PUB 526 Records To Keep. On page 17 under Section Records to Keep, and on to Cash Contributions of $250 or More, I then go to acknowledgement on page 18. Here I find a brief list of needed items. This seems a little weak, as no mention of the following: #1 being signed by an authorized administrator, #2 date received, # QCD IRA gift, #4 received directly from IRA custodian. I assume the actual IRS REGs do cover these details.
Does anyone know where in the REGs I might find this info, or how to find this myself. Thanks in advance for any help.



Submitted by David Mertz on Thu, 2018-09-27 20:59

  • Section 408(d)(8)(C):  Contributions must be otherwise deductible.  For purposes of this paragraph, a distribution to an organization described in subparagraph (B)(i) shall be treated as a qualified charitable distribution only if a deduction for the entire distribution would be allowable under section 170 (determined without regard to subsection (b) thereof and this paragraph).
  • Section 170 refers to charitable deductions claimable on Schedule A, so for a QCD you must retain the same records that would be required if you reported the contribution on Schedule A instead of as a QCD.  You’ve already found those requirements in Pub 526.  The charity has no way to know if you are reporting it on Schedule A or as a QCD, so they should be providing you with the same documentation as if you simply made a regular donation of cash or property.

Submitted by Barry Bacharach on Wed, 2024-07-24 10:27

So a QCD for under $250 does not require a receipt from the charity?

Submitted by tomd37 on Thu, 2018-09-27 21:31

Tell your church no more contributions if they do not provide the required documentation.  That will get them off their duff.  With the new tax laws they are apt to see more QCDs with the rise in the standard deduction amount starting in tax year 2018.  I suggest to certain of my Tax-Aide clients that they learn more about QCDs and the tax ntages they might derive from them.   Tom D.

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