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Retirement tax questions
@lrich47 - it does reduce the taxable amount.
let's say your RMD is $10,000 and you direct the administrator to send $3,000 to a non-profit as a QCD.
The RMD is satisifed as $10,000 is distributed ($7,000 to you and $3,000 to the non-profit).
your tax return would show income of $7,000 - not $10,000.
‎September 27, 2023
4:59 AM