QCD vs Standard Deduction

[Azor222]

As a single taxpayer that takes the Standard deduction am I eliminating my QCD from my RMD/IRA?

[VolvoGirl]

Not sure I understand your question.  But if you do a QCD the Standard Deduction doesn’t matter.  Yes the QCD comes off of your income before the Standard Deduction.  A IRA QCD should be 0 taxable on 1040 line 4b and QCD written by it.  Unless you have other 1099R taxable amounts on 4b.  So it wipes out the RMD.  

[Azor222]

Turbo tax states in their QCD entry section that the charitable contributions made this way could not also be claimed in the Charitable Donations/Donations to Charities in 2024 (Deductions and Credits) section.  Since Turbo Tax recommended after I completed my deductions that I take the Standard Deductible I wanted to know if the same requirement applies. 

[VolvoGirl · Accepted solution]

Yes since you are already getting a deduction for the QCD  (because it's not included in your taxable income in the first place) you can't enter it in Deductions.  You get a deduction for it whether you take the Standard Deduction or Itemize.  It's called an Above the Line deduction which is better since it reduces your income before the standard deduction.  

[Azor222]

Thanks, I will file both with the QCD along with the Standard Deduction and see how it goes.