topic If I give $ out of a variable annunity directly to a charity do I have to pay tax on the income? in Get your taxes done using TurboTax

If I give $ out of a variable annunity directly to a charity do I have to pay tax on the income?

tax-idiot5 — Sat, 01 Jun 2019 18:18:04 GMT

If I give a charitable donation directly from my Variable Annuity to I have to report the donation as income?

MichaelL1 — Sat, 01 Jun 2019 18:18:05 GMT

Is this RMD? Are you 70 1/2 years old?

tax-idiot5 — Sat, 01 Jun 2019 18:18:07 GMT

Yes, I am over 70 1/2 and this is not an RMD. The Annuity was purchased with after tax $.

MichaelL1 — Sat, 01 Jun 2019 18:18:08 GMT

You will have to pay tax on the income.

It only works with an IRA with RMD and then there are questions in the program if was a Qualified Charitable Deduction (QCD).

If you can itemize (which fewer are now) then you could take this as a charitable deduction.