Common use of Qualified Charitable Distributions Clause in Contracts

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution up to $50,000 to a split interest entity (i.e. charitable gift annuity, charitable remainder trust and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 3 contracts

Sources: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution of up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust unitrust, and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 3 contracts

Sources: Traditional Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Trust Account Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 2 contracts

Sources: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 105,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments adjust- ments each year beginning in tax year 2024. A qualified charitable distribution dis- tribution also includes a one-time charitable distribution up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 1 contract

Sources: Traditional Ira Custodial Document

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 105,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution up to $50,000 to a split interest entity (i.e. charitable gift annuity, charitable remainder trust and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 1 contract

Sources: Traditional Individual Retirement Custodial Account Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution of up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust unitrust, and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 1 contract

Sources: Traditional Ira Custodial Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free tax‐free IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-living cost‐of‐living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time one‐time charitable distribution of up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust unitrust, and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B590‐B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 1 contract

Sources: Individual Retirement Custodial Account Agreement

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to take tax-free inherited IRA distributions of up to $100,000 per year and have these distributions paid directly to certain charitable organizations. This amount is subject to possible cost-of-of- living adjustments each year beginning in tax year 2024. A qualified charitable distribution also includes a one-time charitable distribution of up to $50,000 to a split interest entity (i.e. i.e., charitable gift annuity, charitable remainder trust unitrust, and charitable remainder annuity trust). Special tax rules may apply. For further detailed information you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Appears in 1 contract

Sources: Individual Retirement Trust Account Agreement