Can I send a part or all of my RMD to a charity using a personal check from my checking account or MUST I HAVE PERSHING LLC SEND THE MONEY DIRECTLY TO THE CHARITY INSTEAD OF SENDING IT TO ME?
It depends if you want your RMD to be taxable or not. Contributions must be send directly from IRA to a qualified charitable distribution (by the plan administrator) in order for your distribution to be a qualified charitable distribution (QCD) and to be excluded from your federal taxable income.
If you receive your RMD and then send the money to a charity, your RMD is taxable but you can take an itemized deduction for charitable contribution.It depends if you want your RMD to be taxable or not. Contributions must be send directly from IRA to a qualified charitable distribution (by the plan administrator) in order for your distribution to be a qualified charitable distribution (QCD) and to be excluded from your federal taxable income.
If you receive your RMD and then send the money to a charity, your RMD is taxable but you can take an itemized deduction for charitable contribution.If I send the RMD to a charity in 2017, can i show it as a 2016 deduction?