Ask Terry Questions RMD to Charity

RMD to Charity

By Terry Savage on December 12, 2018 | Wild Card

Hello Ms. Savage – Is it possible for a (traditional) IRA holder to direct the Trustee to make a payment directly to a qualified charity? Can such a contribution effectively reduce the taxpayer’s AGI? What would the 1099R provided to the IRS look like? In my case, a modest contribution will not help me on Schedule A. Thanks for any info you may provide.

Terry Says

If you are older than age 70-1/2 and thus subject to Required Minimum Withdrawals, you can direct the IRA custodian to make a payment of all or part of your RMD directly to a recognized 501c3 charity.  Act quickly.



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