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December 17, 2013

2013 Qualified Charitable Distributions Deadline


December 31, 2013 is the deadline for making a Qualified Charitable Distributions (QCD) from an IRA. The following are some general reminders:

  1. QCDs can only be made from IRAs (Traditional IRAs, Roth IRAs and SEP & SIMPLES that are not ‘ongoing’.) This includes ‘Inherited/Beneficiary IRAs.
  2. QCDs cannot be made from a qualified plan, such as a 401(k) plan, 403(b), or 457 plan
  3. You must be at least age 70 ½ when the amount is withdrawn from your IRA
  4. The charity must be ‘eligible’[1]
  5. QCDs are limited to $100,000 per taxpayer for the year
  6. The amount must be made payable to the charity

For more on QCDs, see the article Donating Retirement Assets to Charities

[1] Charitable organizations described in Code § 170(b)(1)(A).



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