Qualified Charitable Distributions (QCD) Sample Clauses

Qualified Charitable Distributions (QCD). If you have attained must complete a recharacterization no later than your federal income age 70 1/2, you may be able to make tax-free distributions directly tax-filing due date, including extensions, for the year you make the from your IRA to a qualified charitable organization. However, you initial contribution. If you timely file your federal income tax return, must track the amount of all deductible contributions made for tax you may still recharacterize as late as October 15 for calendar year years while age 70 1/2 or older and then reduce the QCD claimed filers. Recharacterizations must occur by transfer, which means that by those prior deductible contributions. Tax-free distributions are the assets, adjusted for gains and losses on the recharacterized limited to $100,000 annually. This amount is subject to an annual amount, must be transferred into another IRA. The recharacterized cost-of-living adjustment, if any. Qualified charitable distributions contribution is treated as though you deposited it into the second are not permitted from an on-going SEP or SIMPLE IRA (meaning IRA on the same day you actually deposited it in the first IRA. your employer continues to make contributions). Recharacterization transactions are reported to the IRS. The election In addition, you may be able to elect to make a once in a lifetime to recharacterize may be completed on your behalf after your death. QCD of up to $50,000 to a split-interest entity. A "split-interest A written notice of recharacterization is required for entity" includes certain charitable remainder annuity trusts, recharacterization transactions. charitable remainder unitrusts, and charitable gift annuities. Some an IRA distribution at any time. However, depending on the timing and interest in the split-interest entity other than the individual for whose amount of your distribution you may be subject to income taxes or penalty benefit such account is maintained, the spouse of such individual, or taxes. both. In addition, the QCD from your IRA must be made directly to
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Qualified Charitable Distributions (QCD). If you have attained age
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Qualified Charitable Distributions (QCD). If you have attained initial contribution. If you timely file your federal income tax return, age 70 1/2, you may be able to make tax-free distributions directly you may still recharacterize as late as October 15 for calendar year from your IRA to a qualified charitable organization. However, you filers. Recharacterizations must occur by transfer, which means that must track the amount of all deductible contributions made for tax the assets, adjusted for gains and losses on the recharacterized years while age 70 1/2 or older and then reduce the QCD claimed amount, must be transferred into another IRA. The recharacterized by those prior deductible contributions. Tax-free distributions are contribution is treated as though you deposited it into the second limited to $100,000. Qualified charitable distributions are not IRA on the same day you actually deposited it in the first IRA. permitted from an on-going SEP or SIMPLE IRA. Consult with Recharacterization transactions are reported to the IRS. The election your tax or legal professional regarding tax-free charitable to recharacterize may be completed on your behalf after your death. distributions. A written notice of recharacterization is required for RMDs For You.
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Qualified Charitable Distributions (QCD). If you have attained age 70 1/2, you may be able to make tax-free distributions directly from your IRA to a qualified charitable organization. However, you must track the amount of all deductible contributions made for tax years while age 70 1/2 or older and then reduce the QCD claimed
Sample 1
Qualified Charitable Distributions (QCD). If you have attained age or the first year of any other contribution treated as a qualified 70 1/2, you may be able to make tax-free distributions directly from rollover contribution. your Xxxx XXX to a qualified charitable organization. However, you
Sample 1

Related to Qualified Charitable Distributions (QCD)

  • Qualified Charitable Distributions If you are age 70½ or older, you may take tax-free Xxxx XXX distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. Special tax rules may apply. For further detailed information and effective dates you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Qualified Reservist Distributions If you are a qualified reservist member called to active duty for more than 179 days or an indefinite period, the payments you take from your IRA during the active duty period are not subject to the 10 percent early distribution penalty tax.

  • Qualified Distributions Qualified distributions from your Xxxx XXX (both the contributions and earnings) are not included in your income. A qualified distribution is a distribution which is made after the expiration of the five-year period beginning January 1 of the first year for which you made a contribution to any Xxxx XXX (including a conversion from a Traditional IRA), and is made on account of one of the following events. • Attainment of age 59½ • Disability • First-time homebuyer purchase • Death For example, if you made a contribution to your Xxxx XXX for 2007, the five-year period for determining whether a distribution is a qualified distribution is satisfied as of January 1, 2012.

  • Pro Rata Distributions During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

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