Skynesher | E+ | Getty ImagesFor some retirees, the deadline to take required withdrawals from retirement accounts is approaching — and those who don't need the money have options, experts say.
Since 2023, most retirees must take required minimum distributions, or RMDs, from pre-tax retirement accounts starting at age 73.
Brokerage assets could be subject to capital gains taxes, whereas pre-tax retirement funds incur regular income taxes.
Unlike mutual funds, most ETFs don't distribute capital gains payouts, which can save brokerage account investors on annual taxes.
There's no charitable deduction, but QCDs don't count toward adjusted gross income, meaning retirees don't need to itemize tax breaks to claim it.
Persons:
Judy Brown, you'll, Berkemeyer, You'll, Karen Van Voorhis, Daniel J, Galli, QCDs, It's
Organizations:
SC, H, D.C, Abrin, Goodman Financial, Galli & Associates, Galli &
Locations:
Washington, Baltimore, Houston, Norwell , Massachusetts