FundSvcs Community

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

I agree completely on the deductible vs. excluded from income distinction, that benefits cannot be provided in consideration of QCDs, and also that QCDs have to come directly from the administrator of the retirement plan and is restricted by age.

That having been said, I've never heard a requirement that the acknowledgment from the charity need to identify whether the contribution was an RMD and QCD.  Assuming that the distribution came directly from the plan administrator and that no benefits were provided, I don't know of any reason why an acknowledgment that identifies the amount of the distribution, states that it was received directly from the plan administrator, and states that no benefits were provided, couldn't be used to substantiate either a charitable gift or a QCD, depending on what the donor initiated, regardless of whether we are sure which sort of transaction it might have been.

(Also, while this is typically characterized as a QCD vs. RMD distinction, I'm not sure that's quite right.  A QCD is a specific thing, that's absolutely true.  But any taxable distribution of retirement plan assets can be a deductible contribution, as far as I know, whether it represents a required minimum distribution for the donor or an entirely elective contribution of retirement account assets.)

My US$0.02 worth; the usual disclaimers apply.

Good luck!

Alan

Alan S. Hejnal (he/him)

Data Quality Manager

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

I agree completely on the deductible vs. excluded from income distinction, that benefits cannot be provided in consideration of QCDs, and also that QCDs have to come directly from the administrator of the retirement plan and is restricted by age.

That having been said, I've never heard a requirement that the acknowledgment from the charity need to identify whether the contribution was an RMD and QCD.  Assuming that the distribution came directly from the plan administrator and that no benefits were provided, I don't know of any reason why an acknowledgment that identifies the amount of the distribution, states that it was received directly from the plan administrator, and states that no benefits were provided, couldn't be used to substantiate either a charitable gift or a QCD, depending on what the donor initiated, regardless of whether we are sure which sort of transaction it might have been.

(Also, while this is typically characterized as a QCD vs. RMD distinction, I'm not sure that's quite right.  A QCD is a specific thing, that's absolutely true.  But any taxable distribution of retirement plan assets can be a deductible contribution, as far as I know, whether it represents a required minimum distribution for the donor or an entirely elective contribution of retirement account assets.)

My US$0.02 worth; the usual disclaimers apply.

Good luck!

Alan

Alan S. Hejnal (he/him)

Data Quality Manager

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

I agree completely on the deductible vs. excluded from income distinction, that benefits cannot be provided in consideration of QCDs, and also that QCDs have to come directly from the administrator of the retirement plan and is restricted by age.

That having been said, I've never heard a requirement that the acknowledgment from the charity need to identify whether the contribution was an RMD and QCD.  Assuming that the distribution came directly from the plan administrator and that no benefits were provided, I don't know of any reason why an acknowledgment that identifies the amount of the distribution, states that it was received directly from the plan administrator, and states that no benefits were provided, couldn't be used to substantiate either a charitable gift or a QCD, depending on what the donor initiated, regardless of whether we are sure which sort of transaction it might have been.

(Also, while this is typically characterized as a QCD vs. RMD distinction, I'm not sure that's quite right.  A QCD is a specific thing, that's absolutely true.  But any taxable distribution of retirement plan assets can be a deductible contribution, as far as I know, whether it represents a required minimum distribution for the donor or an entirely elective contribution of retirement account assets.)

My US$0.02 worth; the usual disclaimers apply.

Good luck!

Alan

Alan S. Hejnal (he/him)

Data Quality Manager

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

I agree completely on the deductible vs. excluded from income distinction, that benefits cannot be provided in consideration of QCDs, and also that QCDs have to come directly from the administrator of the retirement plan and is restricted by age.

That having been said, I've never heard a requirement that the acknowledgment from the charity need to identify whether the contribution was an RMD and QCD.  Assuming that the distribution came directly from the plan administrator and that no benefits were provided, I don't know of any reason why an acknowledgment that identifies the amount of the distribution, states that it was received directly from the plan administrator, and states that no benefits were provided, couldn't be used to substantiate either a charitable gift or a QCD, depending on what the donor initiated, regardless of whether we are sure which sort of transaction it might have been.

(Also, while this is typically characterized as a QCD vs. RMD distinction, I'm not sure that's quite right.  A QCD is a specific thing, that's absolutely true.  But any taxable distribution of retirement plan assets can be a deductible contribution, as far as I know, whether it represents a required minimum distribution for the donor or an entirely elective contribution of retirement account assets.)

My US$0.02 worth; the usual disclaimers apply.

Good luck!

Alan

Alan S. Hejnal (he/him)

Data Quality Manager

Tammy M. Cline

Assistant Director, Gift Policy, Processing & Reporting

West Point Association of Graduates

698 Mills Road West Point, NY 10996

Phone: 845.446.1540

Fax: 845.377.3039

WestPointAOG.org

Serving West Point and the Long Gray Line

CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.