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.

Tax Glossary

Capital gain distribution

A mutual-fund distribution allocated to gains realized on the sale of fund portfolio assets. You report the distribution as long-term capital gain even if you held the fund shares short term.

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