Submitted By: someone
Answered: November 19, 2018 10:21 pm

I’m 72 years old. Can I take a qualified charitable distribution from my SEP?

A qualified charitable distribution (QCD) can only be taken from a traditional or Roth IRA. It cannot be taken from a SEP or SIMPLE-IRA. However, SEPs and SIMPLE-IRAs can be rolled over to an IRA and then QCDs can be taken from the IRA.

advertisement
Tax Glossary

Alternative minimum tax (AMT)

A tax triggered if certain tax benefits reduce your regular income tax below the tax computed on Form 6251 for AMT purposes.

More terms