QCD

(redirected from Qualified Charitable Distribution)
AcronymDefinition
QCDQuantum Chromodynamics
QCDQualified Charitable Distribution (IRS)
QCDQuality, Cost, Delivery
QCDQuit Claim Deed (real estate)
QCDQuality Control Department
QCDQuality Control Department (various organizations)
QCDQuality Control Division (various locations)
QCDQuarkCopyDesk (file extension)
QCDQuick Control Dial (cameras)
QCDQuality Custom Distribution Services, Inc.
QCDQuintessential CD (PC media player)
QCDQuick Claim Deed (real estate)
QCDQuick Change Directory
QCDQuasi-Cyclic Dyadic
QCDQuick Cheque Deposit
References in periodicals archive ?
A taxpayer age 701/2 or older is permitted to make a qualified charitable distribution (QCD) from a traditional IRA or Roth IRA that was not includable in the gross income of the taxpayer.
For tax years 2006 to 2009, a taxpayer age 70 1/2 or older can make a qualified charitable distribution from an IRA that is not includible in the gross income of the taxpayer.
A direct rollover from a traditional IRA or a Roth IRA to a charity will be tax-free if it meets the requirements of a qualified charitable distribution.
For years 2006 through 2009, an individual taxpayer age 70% or older may make a qualified charitable distribution from an individual retirement account (IRA) that will not be includable in the gross income of the donor/ taxpayer.
To avoid some of the inherent problems with making lifetime charitable gifts from IRAs, Congress included in the Pension Protection Act of 2006 a provision that allows IRA owners age 70% or older to use their IRAs to make a lifetime gift to a qualified charitable organization--called a qualified charitable distribution or QCD--without claiming the amount taken from the IRA as taxable income.
It is important to emphasize that a qualified charitable distribution must be made directly by the IRA trustee to the charitable organization.
An IRA owner who is at least age 70 1/2 can make a qualified charitable distribution (QCD) of up to $100,000 annually from the IRA [IRC section 408(d)(8)], The distribution is not taxed.
For clients who do not have access to tax-free sources of income in retirement (Roth accounts, for example), making a qualified charitable distribution (QCD) can help reduce postretirement MAGI to minimize Medicare's income-based surcharges.
However, once you reach age 7014, such transactions may be untaxed as a Qualified Charitable Distribution (QCD).
Under the qualified charitable distribution ordering rules, the distribution is deemed to come first from deductible contributions and would "use up" basis only to the extent that the distribution exceeds the aggregate amount that would have been included in the taxpayer's income if all amounts in the taxpayer's IRAs were distributed in the tax year.
For tax years 2006 to 2009, a taxpayer age 70V2 or older can make a qualified charitable distribution from an IRA that is not includible in the gross income of the taxpayer.
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