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I am 71 and received a check for my RMD at the end of December, 2017. I donated it to a charity in January 2018. Can I claim it as a deduction for 2017?

 
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JulieH1
New Member

I am 71 and received a check for my RMD at the end of December, 2017. I donated it to a charity in January 2018. Can I claim it as a deduction for 2017?

No.

Qualified charitable contributions must be made by December 31 each year in order to exclude that amount from taxable income.

If you want to read more about how to donate your RMD, I think this article is very useful.  I recommend it to all my clients.

https://money.usnews.com/money/retirement/iras/articles/2017-12-04/how-to-donate-your-required-minim...

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2 Replies
JulieH1
New Member

I am 71 and received a check for my RMD at the end of December, 2017. I donated it to a charity in January 2018. Can I claim it as a deduction for 2017?

No.

Qualified charitable contributions must be made by December 31 each year in order to exclude that amount from taxable income.

If you want to read more about how to donate your RMD, I think this article is very useful.  I recommend it to all my clients.

https://money.usnews.com/money/retirement/iras/articles/2017-12-04/how-to-donate-your-required-minim...

dmertz
Level 15

I am 71 and received a check for my RMD at the end of December, 2017. I donated it to a charity in January 2018. Can I claim it as a deduction for 2017?

A QCD must also be paid directly to the charity by the IRA custodian.

Provided you have met the requirements for documenting this charitable contribution, this will be deductible on your 2018 Schedule A.
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