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My church is a 501c(3) organization. In addition to a General Fund, there are several funds designated for specific purposes, i. e. Missions, School, Food Bank, etc. Can a QCD be directed to a specific designated fund or must it go to the General Fund?
My wife and I are both in our mid-70’s and blessed to have substantial Traditional IRA’s, with the resultant Required Minimum Distributions (RMD). My questions are about the new provision that allows us to contribute to Qualified Charitable Annuities (QCA) as part of our RMD. I’ve read they are “one-time” with a max of…
I am 64, My father passed in 2020 at the age of 80 and I have inherited his IRA. I know the IRS waived any penalties for not taking RMDs for 2021 and 2022 while they tightened up their guidance on the 10 year rul. Has the penalty been waived again for 2023 for everyone? Some sources say you must take the RMD for 2023 on…
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