I had a small RMD from a tranditional IRA sent directly to my church in 2023. Is the RMD taxed

Russell

Also, I made contributions to the IRA after I was 70 1/2.

JMSSGV

If you made contributions to your IRA after you turned 70 1/2, you have to reduce the amount of your QCD by all of those contributions (not just the one in the year of the QCD.) There is information on how to calculate your allowable QCD in this publication. https://www.irs.gov/publications/p590b#en_US_2022_publink100091536

AlexO

Hello, Russell!

That is a great question!

It sounds like you performed a Qualified Charitable Distribution (QCD). Is that correct?

If so, this RMD is not taxable as long as it was paid directly from the IRA to the charitable organization.

For more information, see the IRS link below:

https://www.irs.gov/newsroom/reminder-to-ira-owners-age-70-and-a-half-or-over-qualified-charitable-distributions-are-great-options-for-making-tax-free-gifts-to-charity#:~:text=Normally%2C%20distributions%20from%20a%20traditional,to%20an%20eligible%20charitable%20organization.

Russell

I recall somewhere reading that if you made contributions after 70 1/2 , you could not count the QCD until the amount of contributions after 70 1/2 contributions total was reached. Is this correct?

Russell

Thanks, this was answered above by JMSSGV