Using IRAs To Make Charitable Donations

[vnatale]

Is anyone doing this?

Using IRAs To Make Charitable Donations

https://www.fa-mag.com/news/using-iras- ... 44549.html


I'd never prior been that interested in it but this caught my eye: "There’s yet another tax-planning perk: “For states that don’t allow itemized deductions, retirees who use QCDs will also pay less in state taxes,” DeVito added."

For that reason alone I might do it. However, does anyone know (prior to me doing further research to one doing it) if you can make the donation to one's own donor advised fund?

That article does state this: "To do a qualified charitable distribution, retirees must instruct the firm that manages their IRA to direct some or all of their RMD to one or more charities. The firm must send the money directly to the charity, or send the retiree a check made out to the charity, which then must be forwarded. The IRS does not allow taxpayers to collect the money first and then donate it for the qualified charitable distribution."

That does seem fairly specific but I'm hoping that with further explanation it does include donations to donor advised funds, which allow one a lot of discretion as to when a charity ultimately receives a donation from you.

Vinny