Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

Qualified Charitable Distributions Can Lower Your Taxes! Find Out How

January 4, 2021 · Saving & Spending

Can couples maximize their QCDs?

Yes. QCDs cannot exceed $100,000 per person, per year. However, a married couple can make a donation as high as $200,000, if each spouse has an IRA and sticks to the $100,000 limit.

Read also 26 States That Do Not Tax Your Social Security Benefits.

What taxes do you have to pay for QCDs?

Compared to the distributions from your traditional IRA, donations made to qualified charities are not subject to any state or federal withholding taxes. You simply file your IRS Form 1099-R and report the distributions made to qualified charities as normal distributions. Keep in mind that charitable donations made from an inherited IRA or an inherited Roth IRA should be reported as death distributions.

The good thing about QCDs is that you no longer have to itemize your deductions. This means you can benefit from the higher standard tax deduction brought by the Tax Cuts and Jobs Act (TCJA) in 2017 and still make charitable donations to those in need. Before you do your victory dance, just know that although the IRS will not tax your QCD, it will not allow you to claim the distribution as a charitable tax deduction.

See also Will Taxing the Rich Save Social Security? Experts Weigh in.

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A senior man sits at a wooden table reviewing a Social Security Administration statement with a pen and notebook. Why So Few Retirees Qualify for Social Security’s Biggest Possible Monthly Check
  • A woman reviews a retirement planning calendar and binder at a sunlit wooden table near a window. Key Retirement Milestone Ages Most People Miss
  • Mature couple sitting at a wooden kitchen table reviewing a calendar and open notebook with a cup of coffee. The Average Social Security Check by Age
  • 8 Medicare Billing Errors Worth Appealing 8 Medicare Billing Errors Worth Appealing
  • An older couple reviews Medicare paperwork at their kitchen table in warm morning light. 9 Medicare Rules Around Second Opinions
  • An older woman looks over healthcare paperwork at her kitchen table under warm light, looking concerned. 7 Signs Your Medicare Advantage Plan Restricts Specialist Access
  • An older woman practices balance therapy with a physical therapist in a bright, sunlit rehabilitation room. 8 Medicare Rules for Skilled Nursing Facility Stays
  • An older couple sitting at a wooden kitchen table reviewing Medicare booklets together in warm morning light. 9 Signs You Should Compare Medicare Plans This Fall
  • An older couple in their home kitchen reviewing Medicare documents next to a CPAP medical device on the table. 7 Medicare Coverage Rules for Durable Medical Equipment
  • An older man at a wooden kitchen table reviews a long pharmacy receipt next to a prescription bottle in warm morning light. 8 Signs Your Medicare Plan's Drug Formulary Has Changed

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

7 Facts About How Corona Virus Really Affects Your Retirement Savings

Savings Accounts Will Pay Lower Interest Rates Due to the Federal Reserve’s interest rate cut,…

Read More →
A happy senior couple enjoying a bright, modern kitchen together.

15 Things That Make Seniors’ Lives Easier

Discover 15 practical tools, home modifications, and services designed to simplify daily routines, enhance safety,…

Read More →

30 Shocking Retirement Facts to Help You Prepare Your Nest Egg

4. States with the Highest Proportion of Seniors According to the 2010 census, it seems…

Read More →

20 Smart Strategies to Boost Your Savings and Retire Rich

Save at Least 10% Per Year In order to have a comfortable and enjoyable retirement,…

Read More →

9 Things Seniors Didn’t Know They Could Get for Free or Discounted

Amtrak discounts You only have to be 62 years old to take advantage of Amtrack’s…

Read More →

15 Tips to Avoid Being Scammed When Shopping Online

Fake saving apps Before downloading saving apps like those that inform you what major discounts…

Read More →

Stay Away From These 15 Deals When Shopping at Walmart

Discover the 15 worst deals at Walmart that drain your retirement budget, from electronics traps…

Read More →

15 Best Deals for Seniors Only at Costco Stores

Discover the 15 most valuable Costco discounts for seniors, from prescription savings and premium hearing…

Read More →

Things You Should Do to Save Money

Learn To Say ‘No’ Do you sometimes wish you could just put your foot down…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.