Required Minimum Distribution to Charity

Give Your Required Minimum Distribution to your Church or Charity

If you claim the Standard Deduction and you give money to your church or a charity, consider giving your “Required Minimum Distribution” (RMD) from your IRA to them. Claiming the Standard Deduction, instead of itemized deductions, on your tax return gives you no tax benefit on your gifts to your church or charities.

However, if you give your RMD to your church or charities, you do not have to claim the RMD as income, according to my accountant. You already received a deduction for the money you contributed to your IRA, and the growth on the money in your IRA has never been taxed.  Therefore, it is like getting a deduction for the gifts to charity from your RMD.  Obviously, you need to ask your own tax adviser about this idea.