Broker Check

Qualified Charitable Distributions - IRS Requirements

November 29, 2022

Qualified Charitable Distributions are great options for making charitable gifts, if you are over age 70 1/2 when donating, complete the transaction as a direct transfer from an IRA, report the amount correctly on your tax return and maintain proper records of the transactions. This IRS reminder covers the requirements. Be sure to read the Acknowledgement section in Publication 526, there is a link from the article, and talk with your Financial Planner and Tax Advisors for additional help.