President Obama signed the Tax Increase Prevention Act of 2014 (TIPA)1on Dec. 19, 2014, extending qualified charitable distributions (QCDs) for 2014.
Since 2006, individual retirement account owners over age 70 ½ have been able to direct that up to $100,000 of their IRAs be distributed each year directly to a public charity other than a donor advised fund. This is called a QCD.2
A QCD counts toward the required distribution. It’s not included in income, nor does it qualify for a charitable contribution deduction. The provision for QCDs had expired at the end of 2013.