Qualified Charitable Distribution (QCD)
Reporting Requirements
In IRS News Release 2022-201 issued on November 17, 2022, the IRS outlined instructions regarding the acknowledgements that donors must obtain when giving a Qualified Charitable Distribution (QCD) from an IRA account. The acknowledgement from the charitable organization should be dated and is required to include the following information:

  • Date of contribution
  • Amount of contribution
  • Statement indicating whether the door received anything of value

Qualified charitable distributions (QCDs) from IRA accounts are a great way for those over 70½ to give charitably. The IRA distribution for the QCD is not taxable. Even though there is no charitable deduction for a QCD, the QCD donation lowers taxable income. 

This is helpful for taxpayers that want to reduce their adjusted gross income for various reasons, including the calculation of taxable social security income. A QCD donation also benefits taxpayers who are not able to itemize deductions.
If you have additional questions regarding QCD’s or if the organization would like sample QCD acknowledgement wording, please contact our office at 913-338-3500.