QCD’s when Itemizing
What are the benefit of giving via QCD when one is able to itemize deductions?
Yes, nothing has changed. QCDs have the same advantages as always. There might be a few cases where there was no benefit from reducing AGI and a non QCD donation could be fully itemized in amounts exceeding the standard deduction, all this would do is generate an equal result, not a superior outcome. For IRAs with basis, a QCD also leaves more basis in the IRA for future use by treating the entire QCD as pre tax.
Permalink Submitted by John Michael Hall on Wed, 2023-04-19 17:39
Nevermind, Alan. I found some posts from 2020 and 2022 that explain the benefit of lowering AGI. Unless there is anything new for 2023, this is enough info. Thanks!