Linda Boone

Comments:

• Another timing issue. Just because the person writes the check and mails it to the qualified charity as part of their RMD for the year, the check must be Cashed during the year for it to be used as an offset to the taxable RMD amount. If checks are written too late in the year and not cashed, there could be an unintended RMD penalty for not taking the full amount of the year's RMD. We are counseling clients to plan their charitable contributions for the year as early as possible, sending the checks no later than Nov. 1st to ensure they get cashed by 12/31.

  Post: Giving Made Easy

  Link to comment from January 25, 2023