Common use of Qualified Charitable Distributions Clause in Contracts

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to make a “qualified charitable distribution” from your Traditional IRA. A qualified charitable distribution is generally not subject to federal income tax. The maximum qualified charitable distribution is $100,000 for 2022 and $100,000 for 2021. Adjustments to this amount for later years may be authorized by the federal government. If you make deductible Traditional IRA contributions for any year in which you are age 70½ or older, all or a portion of your qualified charitable distributions may be subject to federal income tax. For further detailed information you may wish to obtain IRS Pub. 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS. For assistance in determining if you are eligible to make a qualified charitable distribution from your IRA and/or if all or a portion of such distribution is taxable, consult your tax advisor.

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to make a “qualified charitable distribution” from your Traditional IRAXxxx XXX. A qualified charitable distribution is generally not subject to federal income tax. The maximum qualified charitable distribution is $100,000 for 2022 and 2022and $100,000 for 20212023. Adjustments to this amount for later years may be authorized by the federal government. If you make deductible Traditional IRA contributions for any year in which you are age 70½ or older, all or a portion of your qualified charitable distributions may be subject to federal income tax. For further detailed information you may wish to obtain IRS Pub. 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS. For assistance in determining if you are eligible to make a qualified charitable distribution from your IRA and/or if all or a portion of such distribution is taxable, consult your tax advisor.

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to make a “qualified charitable distribution” from your Traditional IRA. A qualified charitable distribution is generally not subject to federal income tax. The maximum qualified charitable distribution is $100,000 for 2022 2020 and $100,000 for 2021. Adjustments to this amount for later years may be authorized by the federal government. If you make deductible Traditional IRA contributions for any year in which you are age 70½ or older, all or a portion of your qualified charitable distributions may be subject to federal income tax. For further detailed information you may wish to obtain IRS Pub. Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS. For assistance in determining if you are eligible to make a qualified charitable distribution from your IRA and/or if all or a portion of such distribution is taxable, consult your tax advisor.

Qualified Charitable Distributions. If you are age 70½ or older, you may be eligible to make a “qualified charitable distribution” from your Traditional IRAXxxx XXX. A qualified charitable distribution is generally not subject to federal income tax. The maximum qualified charitable distribution is $100,000 for 2022 2020 and $100,000 for 2021. Adjustments to this amount for later years may be authorized by the federal government. If you make deductible Traditional IRA contributions for any year in which you are age 70½ or older, all or a portion of your qualified charitable distributions may be subject to federal income tax. For further detailed information you may wish to obtain IRS Pub. Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS. For assistance in determining if you are eligible to make a qualified charitable distribution from your IRA and/or if all or a portion of such distribution is taxable, consult your tax advisor.