#ProudBlue #Resist Want to donate to PBS now that #Felon47 has used an EO to strip PBS & NPR of federal funding? I am not an investment advisor - before trying this, make sure it is legal! - ThreadSky

barbararybolt.bsky.social • 4 days ago

#ProudBlue #Resist

Want to donate to PBS now that #Felon47 has used an EO to strip PBS & NPR of federal funding?
I am not an investment advisor - before trying this, make sure it is legal!

Reposted from Liberty View

This is a wonderful opportunity. I can not only help PBS by using the Qualified Charitable Distribution provision to fund them directly from my IRA, I can avoid the mandatory tax that would be forced by Required Minimum Distribution thereby depriving Trump of desperately needed revenue.

Fuck Trump.

Comments

libertyview.bsky.social•4 days ago

This web page explains it in (very legal!) detail. You can also check the charitable status of your local PBS station via their Charity Lookup page.

https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity

libertyview.bsky.social•4 days ago

You can also donate directly to PBS rather than your local station. (But, if you watch it, why not support it?)

Be aware, there's a slightly different acknowledgement letter you'd like for a QCD rather than a regular donation. PBS is aware, but your local station may not be.

libertyview.bsky.social•3 days ago

Although I posted the IRS link with the rules, let me emphasize: This trick only works for those over 70 1/2!

If you're younger than that, you can't donate directly from an IRA. It's still tax deductible, but you'll incur the taxes first, and if you're younger than 59 1/2, there's a 10% penalty.

barbararybolt.bsky.social•3 days ago

Thanks for the clarification and the link. It’s why I posted “I am not an investment advisor - before trying this, make sure it is legal!” I didn’t want to end up in trouble!

libertyview.bsky.social•3 days ago

If you're working with a broker, they likely know the rules, too!

barbararybolt.bsky.social•4 days ago

Thank you!