First Year RMD Delayed and QCD
Does anyone know… If an individual is required to take the first RMD in 2022 but delays it to 2023 (before April 1), can that RMD be offset with a QCD as long as total QCDs in 2023 are below $100,000?
Does anyone know… If an individual is required to take the first RMD in 2022 but delays it to 2023 (before April 1), can that RMD be offset with a QCD as long as total QCDs in 2023 are below $100,000?
Permalink Submitted by Alan - IRA critic on Wed, 2023-03-15 14:52
Yes, the QCDs reduce taxable RMDs in the year of the RMD distribution. There will be 2 RMDs due in 2023, but the QCD limit will be 100,000 total before inflation adjustments of the QCD limit start in 2024. The usual timing requirements apply in that the QCDs should be completed before the RMDs are completed.