Charitable giving from IRA

brick4 · ‎May 03, 2021

I'm 64 can i give to a qcd directly from my ira?

macuser_22

No. You must be 70 1/2 or older.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

SusanY1

No. In order to take a QCD (qualified charitable distribution) from your IRA, you have reached the age that requires you to take minimum distributions. In your case, you will be eligible to give in this manner at age 72.

Any donation that you make would be deductible as a regular, itemized deduction on Schedule A, subject to regular limitations.

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macuser_22

@SusanY1 wrote:

No. In order to take a QCD (qualified charitable distribution) from your IRA, you have reached the age that requires you to take minimum distributions. In your case, you will be eligible to give in this manner at age 72.

I believe you will find that the SECURE Act that changed the RMD age to 72 did not change the QCD age that remains 70 1/2. The QCD is not tied to the RMD.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

SusanY1

@macuser_22 is correct. The age is actually 70 1/2 for the QCD, not 72. Currently you may make a QCD in the year in which you reach age 70 1/2, not 72. My apologies for the error and any confusion.

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Charitable giving from IRA