Tax Bill Makes IRA Qualified Charitable Distribution Option Permanent
After numerous temporary extensions since 2006, Congress has made permanent the IRA qualified charitable distribution (QCD) option for taxpayers age 70 ½ or older. This option allows a qualifying taxpayer to donate up to $100,000 per year of IRA assets tax-free to qualifying charitable organizations. The bill has now gone to President Obama for signature and enactment.
Read this full edition of Ascensus’ Retirement Spotlight here.