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Charitable Contributions of IRA Distributions

lisaj
Level 2

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

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Just-Lisa-Now-
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♥¸¸.•*¨*•♫♪

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5 Comments 5
Just-Lisa-Now-
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♥¸¸.•*¨*•♫♪
lisaj
Level 2

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

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Just-Lisa-Now-
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♥¸¸.•*¨*•♫♪
Just-Lisa-Now-
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♥¸¸.•*¨*•♫♪
Terry53029
Level 14
Level 14

@lisaj just curious what code is in box 7

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