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Qualified Charitable Distribution (QCD)
I'm a little confused about a limitation on QCDs. I have both a SEP IRA into which I still contribute, and a traditional IRA. I'm over 701/2. Say I contribute a deductible amount of $5,000 to the SEP IRA in 2023. Can I make a non-taxable $1,000 QCD distribution from the traditional IRA for 2023? How does Turbotax handle this circumstance?
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‎November 22, 2023
4:57 AM