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Tuesday, January 29, 2013

Qualified Charitable Distributions from Individual Retirement Accounts: A Fact Sheet

John J. Topoleski
Analyst in Income Security

A provision of the Pension Protection Act of 2006 (P.L. 109-280) allows tax-free distributions from Individual Retirement Accounts (IRAs) for charitable purposes. This fact sheet describes the IRA Qualified Charitable Distribution (QCD) provision. The provision had expired on December 31, 2007; it was extended until December 31, 2009, by H.R. 1424/P.L. 110-343, signed by President George W. Bush on October 3, 2008. The provision was extended through December 31, 2011, by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312), signed by President Barack Obama on December 17, 2010. A provision in The American Taxpayer Relief Act of 2012 (P.L. 112-240) signed by President Barack Obama on January 1, 2013, extended this provision through December 31, 2013.

Date of Report: January 17, 2013
Number of Pages: 7
Order Number: RS22766
Price: $19.95

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