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- Title
ROTH IRAS AND QUALIFIED CHARITABLE DISTRIBUTIONS.
- Authors
Smith, Sheldon R.; Smith, Lynn R.
- Abstract
Current tax law allows certain taxpayers to make direct charitable contributions from an individual retirement account without including the transferred amount as income and then claiming it as a charitable contribution. This paper discusses this tax law in relation to a Roth individual retirement account (Roth IRA). While some distributions from a Roth IRA technically could qualify for this tax treatment, it would be very unusual for a distribution from a Roth IRA to meet all the qualifications for a qualified charitable distribution (QCD). Therefore, even though saying a QCD could come from a Roth IRA is technically correct, it is not very relevant from a practical standpoint.
- Subjects
INDIVIDUAL retirement accounts; CHARITABLE giving; TAX laws; INCOME; TAXATION
- Publication
Journal of Business & Behavioral Sciences, 2017, Vol 29, Issue 2, p182
- ISSN
1099-5374
- Publication type
Article