QCD after RMD
Would it be accurate to say that QCDs done late in the year, after I’ve taken my RMD, will still NOT count toward my taxable income or be included in my MAGI ?
Would it be accurate to say that QCDs done late in the year, after I’ve taken my RMD, will still NOT count toward my taxable income or be included in my MAGI ?
Permalink Submitted by Alan - IRA critic on Tue, 2024-10-22 11:46
Yes, that is accurate. QCDs taken after your RMD has been completed are not taxable, but neither will they reduce the taxable amount of the RMD.
What they will do is reduce your IRA year end balance, and therefore reduce future RMDs.
This late in the year you might consider delaying the QCD donation until January, when it will offset 2025 RMD taxation.
The general advice is to complete all your QCDs before you complete your RMD.