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This question seems early, since I am only hitting 65 and
Hello -- this question seems early, since I am only hitting 65 and RMD's start at age 70. But am trying to do some planning. It was mentioned at church there could be an advantage to using RMD's for c… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Can I contribute to my church directly from my IRA and avoid
Can I contribute to my church directly from my IRA and avoid income tax on that amount? … read more
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A client of mine donated directly from his IRA distribution
A client of mine donated directly from his IRA distribution $15,000 of his $60,000 distribution. Should I then show for his distribution $60,000 on line 15a of 1040 and $45,000 on line $15B? If so do … read more
Chad EA, CDFA®, CFP®
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Required minimum distribution from an inherited IRA (income
required minimum distribution from an inherited IRA (income reported on 1099-R) Can a charitable gift prevent/offset the tax on the distribution?… read more
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I have contributed to my church. I had previously inputted
I have contributed to my church. I had previously inputted to 1040 15 a my IRA total distribution then typed "QCD" left of the 15b taxable column. Thus I reduced my taxable income by the donation to t… read more
Stephen G.
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I understand that when taking your required RMD you can
I understand that when taking your required RMD you can request all or portion of it to be sent to a charitable organization (like a church) and that amount will reduce your taxable income . But, if y… read more
Robin D.
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I have given my total yearly required withdrawal from my IRA
I have given my total yearly required withdrawal from my IRA to charities. How do I report it so I do not get taxed on the total withdraw,as it is going to 10 different charities using Fidelity to han… read more
Lane
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71 year old makes donation directly from IRA to charity. 1)
71 year old makes donation directly from IRA to charity. 1) do I have to report it as income? 2) may I make a schedule A deduction? 3) what documentation must the charity give me? Please cite IRS code… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I am in the 15% tax bracket and am 66 years old. I have an
I am in the 15% tax bracket and am 66 years old. I have an IRA account and would like to make a charitable contribution to my church. I could take it out in cash and then donate the funds or I could c… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,926 satisfied customers
I have property in Pa. and it will be given to the state of
I have property in Pa. and it will be given to the state of pa. The property is valued and appraised at $400,000.00. Can I lower my Ira holdings with this donation and if so by how much?… read more
Marvin,EA
Marvin,EA
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Hi Steve, what does the 1099R look like for amounts that are
Hi Steve, what does the 1099R look like for amounts that are donated directly to a charity?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Hi I had taken money out of my IRA and had them send $2000
Hi I had taken money out of my IRA and had them send $2000 to the Cancer Society. My 1099R shows the full amount I withdrew, including that $2000. How do I show that on my return? Do I take it off the… read more
winktax
winktax
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I understand the "IRA straight to Charity" tax break ends this
I understand the "IRA straight to Charity" tax break ends this year, 2011. How exactly does that work? If I take say, $5000 from my IRA and give it directly to my Church, how do I report this on my 20… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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If I have ira distributions how can I have them directly paid
If I have ira distributions how can I have them directly paid to my church. Will this not have to be claimed as income?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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We have a small IRA with $12,000. The Required Minimum ...
We have a small IRA with $12,000. The Required Minimum Distribution (RMD) for 2007 will be $330+-. We want to do a Qualified Charitable Distribution for the entire $12,000. Our bank is telling us that… read more
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Taxpayer has read an article in the newpaper giving a tax ...
Taxpayer has read an article in the newpaper giving a tax savings idea which has to do with the mandatory withdrawal of retirement funds at age 70.5 years. The article says to use an IRA to make a cha… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,926 satisfied customers
Mr. Vesely re your response to my question about making a ...
Mr. Vesely: re your response to my question about making a charitable contribution directly from an IRA as part of the RMD --- exactly how is this shown on the 1040. Is the RMD income is shown net of … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,926 satisfied customers
Under the new tax law can I contribute directly from ...
Under the new tax law can I contribute directly from my IRA to a legitimate Charity without incuring taxes on my minimum required distributions. Further, would this minimum required distribution meet … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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