What is a Qualified Charitable Distribution?
Taxpayers age 70 ½ or older can make a qualified charitable distribution, up to $100,000, directly from
their IRA, to a qualified charitable organization.
A qualifying deduction may also count toward the taxpayers required minimum distribution requirement for the year.
Taxpayers should review Publication 590-B, Distributions from Individual Retirement Arrangements for more information.
To post a Qualified Charitable Distribution:
- Create a NEW FUND with an applicable name. ie. IRA/QCD
(Click SETUP from Contribution screen, then click FUND LIST, then click NEW FUND) - Mark that fund as Non-tax deductible. (See Below)
- Post the donation to the newly created Fund. (See Below)
For more information see:
