Hi user17524233574!
When you say "donating stock in my charitable donor account in retirement", it is possible you are referring to Qualified Charitable Distributions (QCDs) made directly from an IRA to a qualified charity. To add to the discussion here in this thread:
What are the limits? Tax year 2025:
- Individual over 70.5 yrs old: Up to $108,000
- Married filing jointly: Up to $108,000 per spouse; thus up to $216,000
- Limits on donations to a Charitable Remainder Trust (CRT) or Charitable Gift Annuity (CGA):
- Individual: $54,000
- Married Filing Jointly: $54,000 per spouse; thus up to $108,000
What are the limits? Tax year 2024:
- Individual over 70.5 yrs old: Up to $105,000
- Married filing jointly: Up to $105,000 per spouse; thus up to $210,000
- Limits on donations to a Charitable Remainder Trust (CRT) or Charitable Gift Annuity (CGA):
- Individual: $53,000
- Married Filing Jointly: $53,000 per spouse; thus up to $106,000
How much can I write off?
QCDs are an above-the-line deduction, and they reduce the amount of the retirement withdrawal dollar-for-dollar. In other words, during the year, $50,000 is withdrawn from your retirement account. $20,000 was sent directly to a qualified charity as a QCD. That means that only $30,000 of the disbursement is added to taxable income. This is different from what has already been discussed here, as it does not get reported on Schedule A as an itemized deduction. In fact, the benefit of a QCD is that it lowers your AGI, and a lower AGI has further impact, such as a possible reduction in the amount of taxable Social Security earnings.
Here is an article with further discussion on QCDs: https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-r/qualified-charitable-distrib...
And here is an article on the IRS website about QCDs: https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-1000...
