Question

Pablo is 75 years old. He made a $5,000 qualified charitable distribution (QCD) from his IRA to a qualified local charity. If he uses the cash method of accounting, what amount of the distribution can he claim as a charitable contribution deduction on his income tax return

Answer 1

Based on his age and the distribution made, the amount that Pablo can claim as a charitable deduction is $0.

Claiming a charitable contribution reduction

• One must be 72.5 years and over.
• One must have satisfied their minimum distribution requirement.

Pablo's requirement is $10,000 and as he has only contributed $10,000, he cannot claim this deduction because he has not satisfied the distribution requirement.

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