Permalink Submitted by tomd37 on Mon, 2023-05-08 00:32
Assuming the RMD is coming out of a traditional IRA (not a 401k or other 401 type plan) and assuming you have reached the age of 70.5 on or after the day of the distribution, yes you can make a distribution out of the TIRA directly to a charity subject to a limit of $100K. I do not believe a QCD can come out of an inherited IRA, but not to be quoted on that. It is referred to as a qualified charitable distribution (QCD). I have been making QCDs from my Vanguard TIRA for the past 14 years. I do it online and the check is made out to the qualifiying charity, mailed to me, I make a copy of it and then forward it under a covering letter requesting a prompt acknowledgement of receipt in accordance with IRS guidelines.
Permalink Submitted by tomd37 on Mon, 2023-05-08 00:32
Assuming the RMD is coming out of a traditional IRA (not a 401k or other 401 type plan) and assuming you have reached the age of 70.5 on or after the day of the distribution, yes you can make a distribution out of the TIRA directly to a charity subject to a limit of $100K. I do not believe a QCD can come out of an inherited IRA, but not to be quoted on that. It is referred to as a qualified charitable distribution (QCD). I have been making QCDs from my Vanguard TIRA for the past 14 years. I do it online and the check is made out to the qualifiying charity, mailed to me, I make a copy of it and then forward it under a covering letter requesting a prompt acknowledgement of receipt in accordance with IRS guidelines.
Permalink Submitted by Alan - IRA critic on Mon, 2023-05-08 03:13
A QCD can be done from an inherited IRA, but only after the beneficiary reaches 70.5.
Permalink Submitted by Geoffrey Kasher on Mon, 2023-05-08 14:26
TY both