IRA Qualified Charitable Distributions

As part of the Consolidated Appropriations Act of 2016, IRA Qualified Charitable Distributions (QCD) from a Traditional and Roth IRA were made permanent. An IRA QCD allows IRA holders 72 or older to use up to $100,000 of assets per year as a tax-free contribution to qualifying charities. The QCD can be used to satisfy all or part of an eligible IRA owner’s required minimum distribution (RMD) for the year.

The distribution payments are to be made directly from the IRA to the charity. For married couples filing a joint income tax return, the QCD annual limit of $100,000 applies separately to each spouse. Seek the advice of a tax professional to decide whether making an IRA Qualified Charitable Distribution is right for you.

If you have any questions, please call one of our IRA experts at 800-821-5104.

• Al Kauffman, Certified IRA Professional, at ext. 2840
• Michelle Roxbury, Certified IRA Professional, at ext. 2876