qualified charitable distribution | Ed Slott and Company, LLC

qualified charitable distribution

IRS Regulations and QCDs: Today's Slott Report Mailbag

Thursday, September 29, 2022
Question: When will the IRS release final regulations for RMDs on beneficiary IRAs? Kim
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QCDs and the Absolute Necessity for a CWA

Monday, September 19, 2022
Qualified Charitable Distributions (QCDs) are a common transaction these days, but all guidelines must be followed to ensure the QCD is valid. Recent court cases have exposed the absolute necessity to adhere to the rules…or the donation could be disallowed.
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Inherited IRA Q&As

Wednesday, August 03, 2022
Each week the Ed Slott team answers questions from financial advisors across the country. Sometimes we see a pattern in repeating questions, sometimes the questions are relatively basic, and sometimes they are real stumpers. We never know what the next phone call or email will bring. Recently, we’ve fielded a rash of inherited IRA inquiries. Here are a few:
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4 QCD Rules That May Surprise You

Monday, July 11, 2022
A qualified charitable distribution (QCD) is a way for you to move funds out of your IRA to a qualifying charity income-tax free. If you are thinking this might be a good strategy for you, here are 4 QCD rules that may surprise you.
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Inherited IRAs and Qualified Charitable Distributions: Today's Slott Report Mailbag

Thursday, June 16, 2022
Question: Ed, My mother passed away in May 2019, and I inherited her IRA. She had not completed her RMD for 2019, so I did that. In 2020, I began my RMDs based on the Single Life Table for Inherited IRAs. Since I inherited prior to January 1, 2020, does anything in the SECURE Act apply to my inherited IRA? Will I be able to continue the RMDs per the Table or will I need to make sure I empty it completely within 10 years of when I inherited it? Thank you, Dale
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Qualified Charitable Distributions & Spousal Beneficiaries: Today's Slott Report Mailbag

Friday, May 13, 2022

By Andy Ives, CFP®, AIF®
IRA Analyst
Follow Us on Twitter: @theslottreport


Question:

I have a 401(k) that I'd like to use a portion for a QCD. I understand that QCD's have to be from an IRA. Can I move a portion to an IRA for the QCD? How will this affect my RMD from my 401(k)? Federal tax implications? Thank you!

Answer:

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A Dozen QCD Facts

Wednesday, May 04, 2022
Qualified charitable distributions (QCDs) continue to gain popularity, and with that popularity comes more questions. Here are a dozen QCD facts that will keep you on the straight-and-narrow with your QCD transactions:
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401(k) PARTIAL ROTH CONVERSIONS AND USING QCDs TO OFFSET RMDs: Today's Slott Report Mailbag

Thursday, April 21, 2022
Question: Hello, I’m learning a lot from Ed Slott’s latest book, “The New Retirement Savings Time Bomb,” but I do have a question on 401(k) Roth IRA conversions. I’m recently retired with a company 401(k). I’m leaning towards keeping the 401(k) (rather than rolling it into my IRA). Is it possible to do an annual direct conversion (partial) from my 401(k) to my Roth IRA, keep the remaining funds in the 401(k), and repeat the process every year until reaching RMD age? Thank you,
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DIRECT ROTH CONVERSIONS AND QCDs: TODAY’S SLOTT REPORT MAILBAG

Thursday, February 17, 2022
Question: I am 66 years old and live on Social Security and other retirement income. Additionally, I have about a half million dollars in pre-tax 457(b) funds that I do not need for current expenses. Are these funds in the pre-tax retirement accounts eligible for Roth conversion?
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QCDs and RMD Requirements of Inherited IRAs: Today's Slott Report Mailbag

Thursday, January 20, 2022
Question: Hello. Thanks in advance for fielding my question. My mother died in 2021 in her 90's. She was using $100,000 of her traditional IRA RMD as a QCD. In order to fulfill her 2021 charitable commitments, I did a QCD after her death. Because I am not 70 ½ yet, my CPA tells me I need to include the IRA withdrawal in my income and take a charitable deduction because the assets had already moved to my inherited IRA account. Is this correct? Is there an exception I am missing here? Thanks!
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