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qualified charitable distribution

529 Plans and Qualified Charitable Distributions: Today's Slott Report Mailbag

QUESTION: I have been funding a 529 account for over 15 years and no longer need to add deposits. Could I change the beneficiary to myself and then convert to a Roth IRA, assuming I have met the 5-year deposit hurdle as well? Has the government ruled on when the clock starts for the 15 years? Meaning, is it from when you open the account or does it restart when you change the beneficiary?

Time is Running Out for 2023 QCDs

If you are charitably inclined and have an IRA, you might want to consider doing a Qualified Charitable Distribution (QCD) for 2023. The deadline for a 2023 QCD is fast approaching. It is December 31, 2023, but many custodians have even earlier cutoffs. Don’t miss out on this valuable tax break. Here is what you need to know.

Bad Santa & The Grinch Offer Horrible IRA Advice – Part 2

The investment advisory firm of Bad Santa & the Grinch continues to disseminate misinformation and lousy, no good, rotten-to-the-core IRA advice. As we saw in “Bad Santa & The Grinch Offer Horrible IRA Advice – Part 1” (Slott Report, November 29), these two unsavory characters take great joy in fouling up not only your holiday, but also the qualified status of IRAs. Here are more fish bones, brown banana peels, coffee grinds and raccoon meals from their dented trash can of “IRA assistance.”

QCDs and the Roth 5-year Clock: Today's Slott Report Mailbag

By Andy Ives, CFP®, AIF®
IRA Analyst
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QUESTION:

4 IRA Tax Breaks for Which We Give Thanks in 2023

Thanksgiving is almost here! This is a time for us to gather together and express our gratitude for all the good things in our lives. When it comes to our retirement accounts, we frequently complain about the negatives, such as the many IRA rules that are way too complicated and confusing.

Still-Time-Left To-Do List

Year-end to-do lists are commonplace. The problem is, they always seem to get published in mid-to-late December. I can almost hear the collective “thanks for nothing” comment from readers as the information arrives too late to act upon. As we are still before Thanksgiving, here are a few year-end items to consider…before it really is too late.

SECURE 2.0 Allows QCDs to CGAs

SECURE 2.0 expands qualified charitable distributions (QCDs) by allowing a one-time only QCD of up to $50,000 to a split-interest entity. As a result of this new rule, there is now a great opportunity to fund a charitable gift annuity (CGA) with a QCD.

Top 10 IRA “Popular Confusions”

By Andy Ives, CFP®, AIF®
IRA Analyst
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The Ed Slott team answers thousands of IRA and work plan questions annually - emails, phone calls, in-person conversations, webinars, Q&A programs and texts. We accommodate all members of the Ed Slott Elite Advisor Group, work with non-member advisors at our 2-Day training programs, and answer questions from the general public via our weekly mailbag. Over time, certain inquiries repeat themselves. I call these “popular confusions.” Here are 10 IRA and work plan topics that you may have stumbled across yourself:

Inherited IRAs and Real Estate in IRAs: Today's Slott Report Mailbag

Question: I inherited an IRA from my brother back in 2019. I have been taking required distributions from it each year. Can I do a qualified charitable distribution from this inherited IRA this year to satisfy the required distribution requirements from this IRA?

QUALIFIED CHARITABLE DISTRIBUTIONS AND SPOUSAL IRA CONTRIBUTIONS: TODAY’S SLOTT REPORT MAILBAG

Question: Can I make a qualified charitable distribution (QCD) from my IRA to pay for my grandson’s summer church camp? Susan

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