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Financial Planning / Tax Strategies
|Subject: Re: charitable contribution from IRA||Date: 11/21/2012 12:31 PM|
|Author: Wradical||Number: 116949 of 122503|
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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Unless you mean that they passed something today, that provision expired as of 12/31/11, to the best of my information.
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