QCDs for Donations to Athletic Programs
Client wants to use a QCD to pay for tickets and the donation required to by the tickets from his IRA in the form of an IRA. Is this possible or is it only possible for the Donation portion?
Client wants to use a QCD to pay for tickets and the donation required to by the tickets from his IRA in the form of an IRA. Is this possible or is it only possible for the Donation portion?
Permalink Submitted by Alan - IRA critic on Mon, 2023-10-02 18:26
The donation must be a separate QCD check. Any QCD must meet the requirements for a full deduction under Sec 170, which eliminates any kickbacks or other “quid pro quo” benefits. In other words, any kickback cannot simply be subtracted from the QCD while the balance is reported as a QCD.