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.

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Tax Glossary

Inclusion amount for leased cars

Based on an IRS table, an amount that reduces a business deduction taken for payments on an auto leased for a minimum of 30 days.

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