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December 17, 2013

2013 Qualified Charitable Distributions Deadline

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December 31, 2013 is the deadline for making a Qualified Charitable Distributions (QCD) from an IRA. The following are some general reminders:

  1. QCDs can only be made from IRAs (Traditional IRAs, Roth IRAs and SEP & SIMPLES that are not ‘ongoing’.) This includes ‘Inherited/Beneficiary IRAs.
  2. QCDs cannot be made from a qualified plan, such as a 401(k) plan, 403(b), or 457 plan
  3. You must be at least age 70 ½ when the amount is withdrawn from your IRA
  4. The charity must be ‘eligible’[1]
  5. QCDs are limited to $100,000 per taxpayer for the year
  6. The amount must be made payable to the charity

For more on QCDs, see the article Donating Retirement Assets to Charities



[1] Charitable organizations described in Code § 170(b)(1)(A).

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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