In this episode, Dan and Ed explain what QCDs are and how they work with RMDs from traditional IRAs. They also discuss which retirement accounts allow QCDs, the timing considerations when executing them, and the new rules under the SECURE Act 2.0. Plus, they cover potential tax pitfalls to watch for when using QCDs.
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FedLife Podcast (Ep.148): Understanding the Ongoing Appeal of Qualified Charitable Distributions for IRA Owners
Join us as Dan and Ed break down how Qualified Charitable Distributions work, which accounts allow them, the timing rules to keep in mind, and the potential tax pitfalls to avoid.
In this episode, you'll discover:
- What exactly is a Qualified Charitable Distribution (QCD)?
- Why is it so important to coordinate your traditional IRA's Required Minimum Distribution (RMD) with a QCD to maximize tax benefits?
- How does the timing work when executing a QCD—and why does it matter?
- Which types of retirement accounts actually allow QCDs?
- What are the new QCD rules introduced under the SECURE Act 2.0?
- And what potential tax traps should you watch out for when using QCDs?
Source Article:
https://stwserve.com/qualified-charitable-distributions-qcds-continue-to-be-popular-among-ira-owners/
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