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!

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