Announcement

Collapse
No announcement yet.

Qcd

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Qcd

    If all other requirements are met, can a QUALIFIED CHARITABLE DISTRIBUTION be made from a SEP IRA if the account holder is retired and no longer making annual SEP contributions?

    In other words, does the fact that SEP contributions are no longer being made then mean that QCDs can be made from that SEP account?
    Tags: None
    #2
    Pub 526 says no:

    "A qualified charitable distribution (QCD) is a distribution made directly by the trustee of your individual retirement arrangement (IRA), other than an SEP or SIMPLE IRA, to certain qualified organizations."
    "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
    • Likes 1

    Comment

      #3
      As does the Internal Revenue Code - From section 408(d):

      (B) Qualified charitable distribution. For purposes of this paragraph, the term "qualified charitable distribution" means any distribution from an individual retirement plan (other than a plan described in subsection (k) or (p)) -

      Subsection (k) = SEP; subsection (p) = SIMPLE
      ​

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X