Submitted By: Fred
Answered: September 16, 2016 1:22 pm

What documentation do I need to establish a qualified charitable distribution (QCD)?

If you are at least 70-1/2 years old by the end of the year, you can make a direct transfer to a public charity up to $100,000. The portion transferred is not taxable, and it counts toward your required minimum distribution. The IRS doesn’t ask that you have personal documentation. Form 1099-R indicates whether your IRA distribution is a QCD. However, the financial institution where you maintain your IRA may ask for your personal letter instructing it to make a direct transfer; you supply the name of the charity. Some financial institutions let you give instructions over the phone or online.

advertisement
Tax Glossary

Mortgage interest

Fully deductible interest on up to two residences if acquisition debt secured by a home is $1 million or less, and home equity debt is $100,000 or less.

More terms