The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/if-i-donate-stock-from-my-ira-to-a-charity-does-30392871.aspx

Subject:  Re: charitable contribution from IRA Date:  11/21/2012  1:01 AM
Author:  TMFPMarti Number:  116948 of 121219

If I donate stock from my IRA to a charity, does that become a taxable event?

I assume you're talking about a qualified charitable distribution (QCD). Up to $100,000 sent directly from the IRA custodian to the charity is not included in your income but counts against your RMD. You cannot deduct it on Schedule A.

For more information see Pub 590 or talk to your custodian. This provision expires 12/31/2012. As of today.

Phil
Rule Your Retirement Home Fool
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us