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ClariFile
New Member

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

I heard that a QCD gift cannot be made through Fidelity Charitable because it is not going directly from the donor to a charity--true?

8 Replies
Hal_Al
Level 15

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

No.

You cannot make a QCD gift, from your IRA, to a donor advised fund (like the Fidelity Charitable fund). It simply isn't allowed, by the rules. Instead, you must make your QCD directly to the charity. 

 

Reference: https://www.irahelp.com/slottreport/ten-qcd-rules-2019-you-need-know

"The QCD rules are not available for gifts made to grant-making foundations, donor advised funds or charitable gift annuities".

tombell23669
New Member

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

May I ask what "rules" do not allow this?
SweetieJean
Level 15

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

SweetieJean
Level 15

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

The distribution must transfer directly to a qualified charity. "Qualified charity" is an official IRS designation. The list of qualified charities includes all 501(c)(3) organizations; and the list explicitly does not include donor-advised funds, foundations, or other grant-making organizations.
dmertz
Level 15

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

It's the law.  Section 408(d)(8)(B)(i) explicitly excludes donor advised funds (described in section 4966(d)(2)) from being eligible recipients of qualified charitable distributions.
fitzgerald21209
Level 2

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

Thank you.

fitzgerald21209
Level 2

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

Thank you for the detailed answer.

fitzgerald21209
Level 2

Can I use the Qualified Charitable Distribution using the Fidelity Charitable fund? Is it better than a non QCD gift deducted as an itemized deduction?

Thank you for the detailed and referenced answer.

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