Qualified Charitable Distribution 2013
One of the requirements for a person to donate up to $100,000 from an IRA is that he/she must be 70 1/2. Must the person be 70 1/2 on the date the transfer to a charity is initiated or can the person be 70 1/2 anytime during the calendar year? Kay
Permalink Submitted by Alan - IRA critic on Tue, 2013-10-22 19:40
IRA owner have actually reached age 70.5 to the day when the QCD is distributed. And if the QCD is intended to also satisfy the RMD, there can be no distribution taken before the QCD check since the first distribution in an RMD year is deemed to apply to the RMD.