Qualified Charitable Distributions. If you have attained age 70 , you may be able to make tax-free distributions directly from your SIMPLE IRA to a qualified charitable organization. Qualified charitable distributions are not permitted from an on-going SEP or SIMPLE IRA (meaning your employer continues to make contributions to this SIMPLE IRA). Tax-free distributions are limited to $100,000. Consult with your tax or legal professional regarding tax-free charitable distributions.
Appears in 2 contracts
Sources: Customer Agreement, Customer Agreement
Qualified Charitable Distributions. If you have attained age 70 701/2, you may be able to make tax-free distributions directly from your SIMPLE Beneficiary IRA to a qualified charitable organization. Tax-free distributions are limited to $100,000. Qualified charitable distributions are not permitted from an on-going SEP or SIMPLE IRA (meaning your employer continues to make contributions to this SIMPLE IRA). Tax-free distributions are limited to $100,000. Consult with your tax or legal professional regarding tax-free charitable distributions.
Appears in 2 contracts
Sources: Traditional Beneficiary Ira Amendment, Traditional Beneficiary Ira Amendment
Qualified Charitable Distributions. If you have attained age 70 70½, you may be able to make tax-free distributions directly from your SIMPLE beneficiary IRA to a qualified charitable organization. Qualified charitable distributions are not permitted from an on-going SEP or SIMPLE IRA (meaning your employer continues to make contributions to this SIMPLE IRA). Tax-free distributions are limited to $100,000. Consult with your tax or legal professional regarding tax-free charitable distributions.
Appears in 1 contract
Sources: Roth Beneficiary Ira Amendment