Charitable donations throgh IRA's | Ed Slott and Company, LLC

Charitable donations throgh IRA's

I am aware of the rule that allows clients over 70 1/2 to make charitable donations
directly as if it was a RMD, but I want to confirm that a client who is say 65 can not
make donations directly to charities and not have to pay taxes????

A QCD can only be done after age 70.5. But that does not mean that you could not have a distribution check made out to a charity at a younger age. But that would not be a QCD and you would have to report the distribution in your income, then you could itemize the donation if you had enough itemized deductions to exceed the new higher standard deduction. In other words, this would generate the same result as if you had the IRA distribution deposited in your checking account, then wrote a check of your own to the charity.

Thanks for the clarification...........


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