QCDs-GoFundMe
Can an individual donate money directly from their IRA to a GoFundMe and have it count as a qualified charitable distribution? Assuming client is over age 70.5.
Can an individual donate money directly from their IRA to a GoFundMe and have it count as a qualified charitable distribution? Assuming client is over age 70.5.
Permalink Submitted by tomd37 on Thu, 2023-09-07 01:34
As stated in IRS Publication 590-B, Distributions for Individual Retirement Arrangements (IRAs), “A QCD is generally a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to an organization eligible to receive tax-deductible contributions.” I don’t see a GoFundMe as being such an eligible organization. I am sure others will comment on your question.