Ed Slott and Company, LLC |

 

QCDs and Roth Conversions: Today's Slott Report Mailbag

Question: My sister is 72 years old and quite philanthropic. Much of her traditional IRA RMD she donates to various charities. Is it possible for her to instruct the IRA trustee to send the money directly from her IRA account to the charities? How will the charities acknowledge receipt from my sister so she can deduct the donations on her taxes? Is she still taxable on the RMD directed to the charity? Keep up the great work and thank you. Edward Answer: Hi Edward, It is great that your sister is charitably inclined. If she is already donating funds distributed from her IRA to charity, she may be a good candidate for Qualified Charitable Distributions (QCD). With a QCD the funds would be transferred directly from her IRA to the public charity of her choice. Read More

Consumers - We want your questions!

Email your questions to us at mailbag@irahelp.com. Selected questions will be featured every Thursday in the Slott Report.

What is an Elite IRA Advisor?

Ed Slott, CPA | Amer...

Why You Should Atten...

The Benefits of Work...

Ed Slott Explains Ho...

What Makes an Elite ...

Ed Slott gives his V...

 

Find members of Ed Slott's Elite IRA Advisor GroupSM in your area.
We neither keep nor share your information entered on this form.
 

I agree to the terms and services:

You may review the terms and conditions here.