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Can I Do A Qualified Charitable Distribution From My IRA?

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Working / Accumulation Phase, Retirement / Decumulation, Tax Planning, Estate Planning, Assets and Investment Planning
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Charitably inclined clients who are age 70.5 or older may benefit from making a Qualified Charitable Distribution from their IRA (excluding Roth IRAs). This is a popular way for clients to support their favorite charities while reducing their AGI. The decision and procedure to carry out this strategy can be complicated.

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

  • Age requirements
  • Distribution limits
  • Qualified charitable beneficiaries
  • The effect of account contributions
  • Step-by-step reporting process

 

Updated 11/15/2021


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