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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An annual payment of money by a company or individual to a person called the annuitant. Payment is for a fixed period or the life of the annuitant. Tax consequences depend on the type of contract and funding.

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