Permalink Submitted by Alan - IRA critic on Tue, 2019-12-24 15:47
No. QCDs can still be done at 70.5 and the QCD distribution will be non taxable, but it won’t offset any RMD income until the year taxpayer reaches 72, starting in 2020. Therefore, there are no timing considerations regarding when in the year the QCD is done until the age 72 year, except that the taxpayer must have reached 70.5 to the day.
Permalink Submitted by Alan - IRA critic on Tue, 2019-12-24 15:47
No. QCDs can still be done at 70.5 and the QCD distribution will be non taxable, but it won’t offset any RMD income until the year taxpayer reaches 72, starting in 2020. Therefore, there are no timing considerations regarding when in the year the QCD is done until the age 72 year, except that the taxpayer must have reached 70.5 to the day.