Exclusion for direct charitable IRA distributions
I’ve been told that the exclusion which expired 12/31/2013 was renewed and retroactive for all of 2014. Obviously I missed that so I am seeking validation that in fact it was renewed and retroactive – I know it’s too late to use it but I want to know when it was enacted that I missed!
Permalink Submitted by Alan - IRA critic on Tue, 2015-01-06 22:06
Passed by Senate on 12/16 and signed by Obama on 12/19. Was retroactive to 1/1/2014, however the current extension did not include the ability to complete the QCD in January, 2015 like was done in 2012 and Jan, 2013. Unfortunate that Congress has fallen into this pattern of very late retroactive legislation. They make tax planning very difficult. And now the waiting begins for 2015.
Permalink Submitted by John L. Ostner on Tue, 2015-01-06 22:19
Thanks Alan…..I just missed the news on 12/19! I have clientsd who would have liked to take advantage of that strategy as they did in2013. I’ll watch the news better at the end of 2015….or whenever they act!