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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

It is recommended to consult with your financial planner, tax advisor or attorney before making any type of qualified charitable distribution.

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