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Purchasing a Charitable Gift Annuity using a RMD from a Traditional IRA
In 2023 I used my full RMD (approximately $47K) to purchase a charitable gift annuity from a college which is a qualified charity. I understand this was enabled as a one-time only provision of the Scores 2.0 Act. How do I report both the distribution and the deduction on my form 1040 (or should it be reported on a different form?). Thanks.
March 29, 2024
11:01 AM