IRA QCD Limits

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Gene Morin
    Junior Member
    • Oct 2015
    • 2
    #1

    IRA QCD Limits

    RE page 4-19 of Taxbook.
    Scenario: An 75 year old person has his Traditional IRA broker send $10,000 directly to his church. His RMD for the year is $3,000. The $10,000 would be normally taxable income. Is the potentially QCD limited to the RMD of $3,000 or can the entire $10,000 be taken as a QCD?
    Tags: None
    • kathyc2
      Senior Member
      • Feb 2015
      • 1945
      #2
      Originally posted by Gene Morin
      RE page 4-19 of Taxbook.
      Scenario: An 75 year old person has his Traditional IRA broker send $10,000 directly to his church. His RMD for the year is $3,000. The $10,000 would be normally taxable income. Is the potentially QCD limited to the RMD of $3,000 or can the entire $10,000 be taken as a QCD?
      Entire 10K would qualify.

        Comment

        Previous template Next

        Disclaimer

        Collapse

        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

        Working...