** It is recommended to consult with your financial planner, tax advisor or attorney before making any type of qualified charitable distribution.
What is a charitable IRA rollover?
The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing certain donors to exclude from taxable income -- and count toward their required minimum distribution -- certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities.
What gifts qualify for a charitable IRA rollover?
A gift that qualifies, technically termed a “qualified charitable distribution,” is:
* Made by a donor age 70 1/2 or older
* Transferred from a traditional or Roth IRA directly to a permissible public charity
* Completed during the applicable tax year