Skip to content
Tax Highlighter

Qualified Charitable Distributions from IRAs

November 18, 2022

Distributions from a traditional Individual Retirement Account (IRA) are generally taxable when received, though exceptions exist. For charitably inclined taxpayers who are at least 70½ years old, one tax-favored exception is the qualified charitable distribution (QCD). A QCD is a nontaxable distribution made directly by an IRA’s trustee to organizations that are qualified to receive tax-deductible contributions. A QCD can benefit taxpayers by letting them support the qualified charity of their choice, while reducing their taxable income. With a QCD, there’s no need to itemize deductions. The maximum annual QCD exclusion is $100,000. Find more information by clicking here or contact our team today to discuss!


 

Meet the Expert

Chris Powers, CPA

Chris helps her clients confidently navigate tricky tax laws and complex regulatory challenges.

Contact via email
Connect on LinkedIn

Looking for more?

Find more insights & resources

Discover More

FSA & 401(k) Contributions for 2023

The IRS has announced contribution updates for both 401(k) plans...

Important Reminder: How the IRS Contacts Taxpayers

During this busy tax season, the IRS is reminding individuals...