Q: We have a client with an IRA who wants to do a qualified charitable distribution (QCD) to a charity. The charity also has an account with the same custodian of the IRA and has asked that the client simply journal assets from her IRA directly to the charity’s account. Logistically, this can be done. Two questions on the topic: 1.) Is it OK to journal assets directly in this manner and still have it count as a QCD? 2.) Do QCDs need to be done in cash, or can they be done in positions?
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Q: If an IRA owner is over age 70 ½, can they do a qualified charitable distribution (QCD) even if their spouse makes a deductible traditional IRA contribution?
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Q: For a non-spousal inherited Roth IRA account, there seems to be contradictory advice on different websites about when to take distributions. Some say there are annual required minimum distributions (RMDs) within the 10 years; others say you can wait until the 10th year for a lump sum. If you can wait and don’t need the money, wouldn’t it be wiser to wait until the last year since the money compounds tax free and the final lump sum distribution would also be tax-free?
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