GLOSSARY · TAX & ESTATE
Qualified charitable distribution
A transfer made directly from a traditional IRA to a qualified charity by an owner aged 70½ or older. The amount is left out of taxable income and can count toward a required minimum distribution, which helps people who take the standard deduction. A yearly limit applies and is indexed for inflation.
Also called: QCD, IRA charitable rollover
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CHAPTER · LEGACY & PHILANTHROPY PLANNING · STRATEGIESGiving to Charity Tax-EfficientlyCHAPTER · ADVANCED TAX STRATEGIES · DEEP DIVEGiving to Charity Tax-EfficientlyRELATED TERMS
SOURCES
- Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs). Internal Revenue Service.