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This is going to get...interesting to say the least. Here's
This is going to get...interesting to say the least. Here's the deal. I have a 403b, a457PL, and a tradiotional IRA. This year I turn 701/2 and need to take a RMD. I'd like to make that a QCD but can'… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
This question concerns my 2018 RMD from my IRA. Last April
This question concerns my 2018 RMD from my IRA. Last April 27, I turned 70 1/2 I was under the belief that if I made my charitable contribution directly to my church that it would by non taxed. Schwab… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
From an inherited IRA, Can I make a QCD to fill minimum
From an inherited IRA, Can I make a QCD to fill minimum distribution requirements and avoid tax on the MRD? Please cite code or a reputable web link.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
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
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
As a retired person if I pay taxes on income received from
As a retired person if I pay taxes on income received from my tax deferred retirement accounts and I wish to to take out more than my usual annual income in order to fund a charitable trust or foundat… read more
Dr. Fiona Chen
Dr. Fiona Chen
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Ph.D.
2,807 satisfied customers
I had a traditional IRA at Wells Fargo Advisors. 1. In
I had a traditional IRA at Wells Fargo Advisors.1. In January 2018, I took the minimum required distribution from that account. 2. In March 2018, Wells Fargo Advisors made a trustee to trustee (direct… read more
Dr. Fiona Chen
Dr. Fiona Chen
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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
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,217 satisfied customers
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.
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.
Robin D.
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Vocational, Technical or Trade School
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I turned 70 1/2 in 2017 but did not take an RMD, so I need
I turned 70 1/2 in 2017 but did not take an RMD, so I need to take two this year.I have an IRA that has both pre and post tax contributions, plus a 401k and a 403b from one former employer.I have foun… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
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
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
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
28,889 satisfied customers
I work for a financial institution and I am asking a question
I work for a financial institution and I am asking a question for a customer. This customer is a non-spouse beneficiary to an IRA and wants to donate it to charity. Is this possible?… read more
jgordosea
jgordosea
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Bachelor's Degree
2,885 satisfied customers
I will be turning 70 1/2 in the next several years and wonder
I will be turning 70 1/2 in the next several years and wonder if there is a way to minimize the tax paid on required withdrawals which could be fairly high amounts ($80,000~).… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,889 satisfied customers
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
Christopher Phelps
Christopher Phelps
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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
Retired
Bachelor's Degree Equivalent
28,889 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
28,889 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
28,889 satisfied customers
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