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Retirement tax questions
Keep in mind that deductible contributions made to an individual's IRA in or after the year they reach age 70½ creates basis in such contributions and Qualified Charitable Distributions will not be excludible from income until all of that basis has been contributed to charity. This means that anyone contemplating making QCDs probably should not make deductible IRA contributions in or after the year they reach age 70½.
April 16, 2023
6:43 PM