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Ask the Hammer: Will a QCD in Excess of One's RMD Help Reduce Modified Adjusted Gross Income for IRMAA Purposes?

Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners answers a Retirement Daily reader's question about how a QCD can impact IRMAA.

In this episode of Ask the Hammer, the Retirement Daily reader's question is:

Will a QCD (qualified charitable distribution) in excess of one’s RMD (required minimum distribution) amount help to reduce modified adjusted gross income for IRMAA (income-related monthly adjustment amount) purposes?

Our expert, Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Retirement Daily editor Robert Powell to answer this question.

Levine talks about:

  • How QCDs do (or do not) impact income
  • How QCDs can impact RMDs
  • What IRMAA is
  • If you can use QCDs to reduce IRMAA
  • What can push your income higher and when it will impact IRMAA
  • Why social security uses tax returns from two years prior

Make sure to watch the episode to get the full scoop!

Stay tuned for more Ask the Hammer!


Got questions?

Email AsktheHammer@BuckinghamGroup.com


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