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A qualified charitable distribution (QCD), also known as an IRA charitable rollover, can not only save you income taxes, it can help minimize your taxable estate and fulfill your philanthropic desires. Through December 31, you can make tax-free transfers of up to $100,000 directly from your IRA to qualified charities.
Defining Qualified Distribution. Distributions from a Roth IRA that are not qualified may be subject to income tax and an additional 10% early-distribution penalty. A qualified distribution meets both of the following two categories of requirements: 1. nonqualified distribution of taxable Traditional IRA conversion assets may be subject to early-distribution penalties. And finally, a nonqualified distribution of earnings may be subject to income tax and the early-distribution penalty.