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question everything

(48,812 posts)
Sat Dec 11, 2021, 03:57 PM Dec 2021

We used QCD or qualified charitable distribution

From our IRAs. At the end of 2020 our assets grew which meant that we had to take a lot in RMD. So we - individually, of course - chose charities and donated some funds. This reduced our taxable income.


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We used QCD or qualified charitable distribution (Original Post) question everything Dec 2021 OP
That is a well known strategy, especially since one would donate to those charities regardless, and JohnSJ Dec 2021 #1

JohnSJ

(96,551 posts)
1. That is a well known strategy, especially since one would donate to those charities regardless, and
Sat Dec 11, 2021, 04:03 PM
Dec 2021

not only does it effectively reduce ones RMD calculation for tax year 2022, but since the standard deduction has be increased, many cannot itemize their standard deduction.


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