The OP is 62. Minimum age to do a QCD is 70 1/2.2) Do QCDs now.
This is, I think, a good way to view the issue.It appears from this thread that you won't owe taxes on 100k+ (QCD) + 60% of AGI for each RMD. Using your 260k RMD example above shows you only will owe taxes on 64k (24%). That is a pretty good tax dodge already. I don't know that I'd be looking to try to increase that.
Actually, the situation is better than Jovby outlines. Maximum QCD for 2024 is $105,000. In eight or nine years when the OP is 70 1/2 it might be greater. Given the OPs considerable financial resources and, I assume, pensions and social security, his post age 75 income will be large - even if we ignore the RMD. Hence, he might be able to donate the RMD - QCD amount to his university's foundation and still be under 60% of AGI. This will be sufficient for the first five or ten years of RMDs. At that point we are 20 years into the future. Does it make sense to try to plan more than 20 years into the future? Much will change during the next 20 years.
Statistics: Posted by ehh — Tue Apr 09, 2024 2:37 pm — Replies 50 — Views 3178