[Haggar]

Originally Posted by Boomer

Thank you, Haggar, for that article.

The first year I did this, I filled out the form and had Fidelity write the check to the charity and then send it to me, and I then sent it to the charity, after making a copy, and got the acknowledgement for tax time.That probably sounds like a bit of a rigmarole to some, but it really wasn’t.

Then I learned that I could use an IRA checking account with Fidelity for the QCD, as long as all the rules are followed and good records kept. (Either way, you need to keep your own records, of course.)

For those who give to charity anyway, it seems silly to not use the QCD as part of the RMD. It is not that complicated.

I have wondered if financial advisors, in general, make their clients aware of this way to save on taxes and maybe to avoid IRMAA. And if not, why not? I know most advisors are not tax accountants, but they should at least give clients a heads-up to learn about the QCD.

Boomer

The answer is no. My advisor who is my client and who has referred many clients does not - to the best of my knowledge. I gave to seven charities through QCDs and she had to prepare seven forms to get my seven checks. They claimed she doesn't have any clients QCDs apply to but I suspect she doesn't want the extra work.