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brow9062
New Member

Can a qcd be greater than the rmd

I made an qcd this year which was less than my rmd  then I withdrew the rest for the rmd  Can I take any additional QCD?  I know I have to pay taxes on the second withdrawal
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6 Replies

Can a qcd be greater than the rmd

You can use a QCD to satisfy your RMD for the year. A QCD can exceed your RMD amount for the year as long as it does not exceed the $100,000 annual limit.

Can a qcd be greater than the rmd

Just keep in mind that most states do not recognize a QCD for state tax purposes, so you will owe state taxes on the  sum total of all the distributions.
mckeating
New Member

Can a qcd be greater than the rmd

Good head's up!!
DFH
Level 3

Can a qcd be greater than the rmd

Does California recognized QCDs?

Can a qcd be greater than the rmd

Not really true (in California anyway).  On Cal form 540, the adjusted gross income is whatever it is on the US 1040.  The 1040 gross income number takes into account the QCD, so at least indirectly California does reflect the QCD.  You don't have to add the money that went to charity back into your Cal 1040 income.  

Can a qcd be greater than the rmd

In my last post about this I said you don't have to add back in the money sent to charity.  To be more exact, you don't need to add back in the RMD  (or more) amount from the IRA that made the distribution

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