Can I Do a Qualified Charitable Distribution From My IRA?

Categories: New/Updated, Removing money from a qualified plan, Traditional IRA

(Updated) For charitably inclined clients who are taking Required Minimum Distributions, they may be able to minimize the tax consequences by doing a Qualified Charitable Distribution. This is becoming a popular way for clients to support their favorite charities. But it’s not without some complications.

To help make it easier, we have created the “Can I Do a Qualified Charitable Distribution From My IRA?” This flowchart addresses common issues pertaining to Qualified Charitable Distribution rules:

  • Age requirements
  • Impact of employer contributions
  • Distribution limits of the distribution
  • Single vs married filing jointly
  • Public vs Private implications
  • Step-by-step process

Updated for 9/1/2019