Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

For tax year 2011, it was possible to make a non-taxable QCD. Is this provision available for tax year 2012? -George

Answer:

Qualified Charitable Distributions were available in 2011. This allowed folks 70 and a half or older to have their IRA trustee to make a non-taxable distribution of up to $100,000 directly to a qualified charity. This distribution would satisfy the IRS minimum distribution requirements. At this point, the rule has not been extended for 2012.