QCD | Ed Slott and Company, LLC

QCD

Qualified Charitable Distributions: Today's Slott Report Mailbag

Question: Hi Ed, My question: Is there any way to do a charitable distribution from my IRA before I reach RMD age? I am recently retired and 65 years old. Thanks! Marty Answer: Marty - The number-one requirement to be able to do a Qualified Charitable Distribution (QCD) is that the IRA account owner must be 70 ½ years old. We are not talking about the year in which you turn 70 ½, we are talking about actually being 70 ½. In fact, even on inherited IRAs, where the deceased account owner may have already reached 70 ½, it does not change the fact that the current account owner of the inherited IRA must also be 70 ½ before they can do a QCD.

QCDs and Roth Conversions: Today's Slott Report Mailbag

Question: Hello, I’ve been a follower of Ed’s expertise for over 10 years. The information has always been helpful and clearly explained. At this time, I’m looking to help a client minimize her taxes. She recently inherited an IRA from her father. She has taken the “Stretch IRA” option and is now receiving her required distributions. Can she utilize a Qualified Charitable Distribution to her church (verified 501c3) to reduce her tax liability and still maintain the stretch IRA? Answer: Yes. Qualified Charitable Distributions (QCDs) are available to beneficiaries.

Putting Your 2017 QCD on Your Tax Return: Four Things You MUST Know

A QCD is a qualified charitable distribution. It is a way to transfer funds from your IRA to a qualifying charity as a non-taxable distribution. It can also satisfy your RMD (required minimum distribution) for the year. You must be at least age 70½ at the time of the transaction to qualify. There are four things that you must know.

Tax Reform and Your IRA – 5 Things You Need to Know

The Tax Cuts and Jobs Act made sweeping changes to the tax laws. Brackets have been changed, deductions have been eliminated, and retirement plans have been affected. You may be wondering what the new law means for your IRA. Here are 5 things you need to know.

Avoid Penalties and Fees by Learning These Rules: Today’s Q&A Mailbag

This week's Slott Report Mailbag looks into QCDs, RMDs, Rollover IRAs and Recharacterizations.

Want to Donate to Harvey Victims? Consider a QCD

As the flood waters slowly recede in the Houston area, many people are asking themselves how they can help the victims of Hurricane Harvey. For those who have IRAs and are charitably inclined a Qualified Charitable Distribution (QCD) may be one way you can help.

Do You Know What to Do When You Inherit an IRA? This Week’s Q&A.

This week's Slott Report Mailbag looks into QCDs, RMDs and inherited IRAs.

7 Things Your IRA Custodian Won’t Tell You

It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them.

You Must Play by the Rules with RMDs and QCDs: Q&A Mailbag

This week's Slott Report Mailbag examines Roth IRA transfers, QCDs and RMDs.

5 Strategies to Reduce RMDs

Nothing lasts forever. This includes tax deferral on your IRAs. Eventually, Uncle Sam is going to want his share and will require funds to come out of these accounts. That is when required minimum distributions (RMDs) must begin. What if you don’t need the money? What if you don’t want a tax hit? Here are five strategies to reduce your RMDs.

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