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What to do with RMD

Wondering what others who are forced to withdraw the RMD are doing to avoid the large income tax hit?  I am very fortunate that I don't need the RMD but law says I have to withdraw the money which is killing me at tax time.

Ken

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@jw96722689 wrote:

Wondering what others who are forced to withdraw the RMD are doing to avoid the large income tax hit?  I am very fortunate that I don't need the RMD but law says I have to withdraw the money which is killing me at tax time.

Ken


One thing you can do is donate part or all of your RMD to charity or if you attend church, have the company that holds your  IRA (401-K) money make the charity (church) a donation.  This way you don't have to pay tax on the part of the RMD that went to charity.

 

I currently put the RMD (quarterly payment) into the same fund I took it out of insuring that no loss (or gain) comes from the market being low (or high) and use it when I choose to take the money out.

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Thanks for that info.

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