Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Charitable Contributions of IRA Distributions

Level 2

THANKS - I GOT THE ANSWER AND WORKED IT OUT WITH THE CLIENT

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Level 15
Level 15

Are they allowed to do a QCD if they arent 70½ ?   

Or is it considered just a regular charitable contribution that you put on Sch A?

 

 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

5 Replies 5
Level 15
Level 15

Are they allowed to do a QCD if they arent 70½ ?   

Or is it considered just a regular charitable contribution that you put on Sch A?

 

 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

Level 2

That is exactly what I thought and tried to explain to my client:-)

0 Cheers
Level 15
Level 15
Im pretty sure it has to be an RMD, and if they havent reached 70½ (or 72 now since they raised the age) then its not an RMD.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 15
Level 15

If you put your mouse cursor in the QCD box on the 1099R worksheet and hit the yellow ? on the toolbar, you'll find this to show your client...sometimes it helps to have it in writing for them to believe you

qcd1.png


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 11
Level 11

@lisaj just curious what code is in box 7

0 Cheers