topic On Joint Return Can we deduct$153K as a QCD?My 2020IRA withdrawal donation is$110K.My wife's IRA withdrawal donation is$53K.Total is< $200K limit.Or is limit$100K/person? in Retirement tax questions

On Joint Return Can we deduct$153K as a QCD?My 2020IRA withdrawal donation is$110K.My wife's IRA withdrawal donation is$53K.Total is< $200K limit.Or is limit$100K/person?

melamat — Fri, 27 Nov 2020 21:16:08 GMT

Is the $200K limit for a married couple filing jointly a total limit of $200K or is it a limit of $100K for the IRA account of each spouse?

Re: On Joint Return Can we deduct$153K as a QCD?My 2020IRA withdrawal donation is$110K.My wife's IRA withdrawal donation is$53K.Total is< $200K limit.Or is limit$100K/person?

macuser_22 — Fri, 27 Nov 2020 21:44:53 GMT

IRA's are Individual - each persons IRA is totally separate from anyone else's IRA. The maximum annual QCD exclusion for each IRA owner is $100,000. You can give as much as you want but can only claim $100K as a QCD and your spouse can claim $53K for hers.

Re: On Joint Return Can we deduct$153K as a QCD?My 2020IRA withdrawal donation is$110K.My wife's IRA withdrawal donation is$53K.Total is< $200K limit.Or is limit$100K/person?

dmertz — Fri, 27 Nov 2020 23:20:41 GMT

The $10,000 that you contributed that is in excess of the $100,000 QCD limit (but not the $100,000 QCD itself) can be entered as an ordinary charitable contribution under Deductions & Credits. Either the $10,000 will then appear on Schedule A line 11 or, if you are not itemizing deductions, $300 will appear on Form 1040 line 10b.