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Pablo is 75 years old. He made a $5,000 qualified charitable distribution (QCD) from his IRA...

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?

A. $0B. $1,000C. $2,500D. $5,000

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Answer #1

Answer:

A. $0

Explanation:

QCDs is reported on IRS Form 1099-R as a normal distribution and the amount will be excluded from Pablo's taxable income.

But Pablo cannot claim any amount as a charitable contribution deduction.

Hence:

Option A is correct and other options B, C, and D are incorrect.

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