Tax Rules for RMD on IRA. I

[mark bar1]

I turn 72 next year and have some questions about my RMD and tax laws.1.  Is the total that the RMD is based on effective Jan 1 of the calendar year I am making the distribution or when I make the distribution or distributions? 

2. If I just transfer equities or funds from my IRA into a personal account,  I know I pay full tax as income on the withdrawl.  If those funds are then in a regular brokerage account,  are capital gains taxes based on the date of transfer of the funds to regular account?  Or does it revert to what the original purchase price of security when purchased for the IRA ?  That would seem to be paying double on capital gains, if so.                 3.  If I donate security to a charity,  how would I then calculate taxes?  Would I be limited in the deduction to be based on what my income is or would it all be tax free  

[melj1]

See if we can assist with your IRA questions.

1. Your first RMD must be taken by 4/1 of the year after you turn 72. Subsequent RMDs must be taken by 12/31 of each year. If you don't take your RMD, you'll have to pay a penalty of 50% of the RMD amount. Calculate the amount of your RMD based on your age, account balance, beneficiaries, and other factors. If you have multiple IRAs, you must calculate each account individually, but you can take your total RMD amount from one IRA or a combination of IRAs.

2. Basis. Your basis in traditional, SEP, and SIMPLE IRAs is the total of all your nondeductible contributions and nontaxable amounts included in rollovers made to these IRAs minus the total of all your nontaxable distributions, adjusted if necessary.

3. Qualified charitable distributions (QCDs). A QCD is generally a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to an organization eligible to receive tax-deductible contributions. You must be at least age 70½ when the distribution was made. 

Here is a link to some additional information on distributions: https://www.irs.gov/publications/p590b.