The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: charitable contribution from IRA||Date: 11/21/2012 12:31 PM|
|Author: Wradical||Number: 116949 of 125208|
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.
Rule Your Retirement Home Fool
Unless you mean that they passed something today, that provision expired as of 12/31/11, to the best of my information.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|