RMD? What to do with it if you don't need $

[Souschef]

I just found out that the Collings Foundation will have a P-40 aircraft available for me to fly this year. Since is it is a 501C3 organization, most of my cost will be a QCD

[Squirrel]

Appreciate all of the QCD explanations in this thread.

But, I spent all of 2014 depressed over finding out that RMDs were taxed at income tax rates -- before that, I'd mistakenly thought retirement accounts invested in the stock market be taxed at capital gains rates.

[audreyh1]

Quote:

Originally Posted by Souschef I just found out that the Collings Foundation will have a P-40 aircraft available for me to fly this year. Since is it is a 501C3 organization, most of my cost will be a QCD

Whoa!

The no large personal material benefit received though may disqualify this. Be careful.

A QCD must be 100% deductible under normal schedule A deductibility rules. If you are receiving some specific fair market value benefit from a specific contribution then it’s not 100% deductible. https://taxmap.irs.gov/taxmap/pubs/p...link1000229650