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posted Mar 19, 2025 3:19:59 PM

QCD. Rollover IRA from 457 with contributions after age 70 1/2

I retired in 2022 after age 70 1/2. I made non-taxable contributions to my 457 plan of $28,000 in 2022 ($5,000from wages and $23,000 from leave payout.) These were my only post 70 1/2 contributions.   I turned 70 1/2 in January of 2022 and retired in August 2022.

I rolled over the $300,000 in my 457 to an individual IRA after retiring in 2022.

 

I would now like to use QCDs to make charitable contributions from my IRA. When I read pub 590b it sounds like I will need to pay taxes on $23,000 in QCD donations from my IRA to cover my 457 post-70 1/2 contributions in 2022 before I can make any nontaxable QCD donations from my IRA.

My question. Am I correct? Does the rollover from the 457 to  an IRA (or anything else) make any difference? 

 

Thanks 

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1 Replies
Level 15
Mar 20, 2025 5:23:03 AM

No, that's not what IRS Pub 590-B says.  Pub 590-B is referring to ordinary deductible traditional contributions made to an IRA in or after the year you reach age 70½, not an amount rolled over from an employer plan.  A 457(b) is not an IRA.