Personal Investments • QCDs before age 73?

Are you on Medicare? are you paying, or at risk of paying IRMAA? QCDs reduce your MAGI whereas deductions do not.

Not until you are drawing RMDs; QCDs have no impact on MAGI before then.

When withdrawing from tax deferred retirement accounts, QCDs get deducted from your taxable income on page 1 of the 1040, so they do have an impact on MAGI even before you reach the RMD age.

Can you clarify what you mean here? QCDs are not part of your adjusted gross income at all, so what would they be reducing prior to RMD age?

I'm not kcolman or GenawithanE, but I believe this is is the thinking:

1. Assuming that one is making a charitable contribution regardless of method (if not, then there is no benefit)
2. Using a QCD after 70.5 and before RMD age reduces your MAGI, when compared to making the same contribution and then deducting it.

Statistics: Posted by David Jay — Sat Mar 09, 2024 4:48 pm — Replies 17 — Views 1120

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