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Financial Planning / Tax Strategies
|Subject: Re: charitable contribution from IRA||Date: 11/21/2012 1:01 AM|
|Author: TMFPMarti||Number: 116948 of 121319|
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.
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