It’s a no brainer that anyone with an IRA over age 70 1/2 paying tithing should absolutely do. It’s an above the line

Apr 11, 2021
8:55:57am

RdF3 All-American

Deduction and with tax laws the way they are right now it goes from most people getting no tax benefit from charitable donations (tithing) to a huge tax benefit.

This message has been modified

Originally posted on Apr 11, 2021 at 8:55:57am

Message modified by RdF3 on Apr 11, 2021 at 8:56:05am

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RdF3

Previous username: swishh_15
Bio page: RdF3
Joined: Nov 4, 2011
Last login: Apr 25, 2024
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Messages

Author

Time

Anyone use a Qualified Charitable Distribution out of a Brokerage or IRA?

CBaass

4/11/21 8:45am

How does that work? Can you pay tithing from an IRA?

Richardo

4/11/21 8:49am

Yes, once you are required to make RMD's. Typically a best practice as it

Acorn

4/11/21 8:52am

For those that understand this - isn't AGI what is used to determine Medicare premiums? That could make a difference.

CotoCoug

4/11/21 10:17am

Yes, there’s several advantages to lowering your AGI through QCD’s.

RdF3

4/11/21 10:22am

Thanks

CotoCoug

4/11/21 12:30pm

It’s a no brainer that anyone with an IRA over age 70 1/2 paying tithing should absolutely do. It’s an above the line

RdF3

4/11/21 8:55am

The RMD age is 72 now.

Ozymandias

4/11/21 9:40am

Yeah but the QCD age is still 70 1/2 & if you make any charitable donations it’s a no brainer at age 70 1/2 regardless

RdF3

4/11/21 9:46am

My dad does this every year. Will try for the first time this year from a

wisconsincougs

4/11/21 9:17am

Many of my clients use this strategy. It's really a no brainer. If you are

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