Reply To: Can Surrendered IRA Life Insurance Annuity QCD?

Home Fairmark Forum Retirement Savings and Benefits Can Surrendered IRA Life Insurance Annuity QCD? Reply To: Can Surrendered IRA Life Insurance Annuity QCD?

#5036
Alan S.
Participant

Yes, if it’s not an IRA the distribution cannot be a QCD. You would have to report the taxable portion of the distribution as shown on the 1099R, and could then itemize the donation providing you have enough total itemized deductions to exceed the standard deduction.

How could the company rep indicate that a QCD could be made unless it was an IRA annuity, unless they thought you were asking if the donation qualified for a deduction (not a QCD)?