Submitted By: someone
Answered: March 17, 2022 2:54 am

I made a qualified charitable distribution from my IRA. Can I take a charitable contribution deduction?

No. A qualified charitable distribution (QCD) up to $100,000 from an IRA by those age 70½ or older is not includible in gross income and it counts toward required minimum distributions (RMDs) you would otherwise have to receive. However, no deduction can be claimed for the amount going to charity.

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Tax Glossary

Points

Charges to the homeowner at the time of the loan. A point is equal to 1 percent. Depending on the type of loan, points may be currently deductible or amortized over the life of the loan.

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