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QCD & RMD Changes Follow Up

  • 1.  QCD & RMD Changes Follow Up

    Posted 12-29-2022 03:35 PM
    Several people have written me asking whether the IRA changes I mentioned a week ago found in the budget deal were approved. The answer is yes.

    The retirement provisions found in SECURE Act 2.0 are very extensive. But the ones affecting QCDs and RMDs are short and sweet:
    • Effective 1/1/2023, you must start taking RMDs at the age of 73.
    • Effective 1/1/2033, the RMD age requirement goes to 75. 
    • The annual QCD limit (now set at a maximum of $100,000) will be adjusted annually for inflation. These adjustments will begin after 2023.
    • Donors can use a one-time election for up to $50,000 of a QCD to fund a CRUT, CRAT or CGA.
    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987


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