The Henderson Group | Income Tax Key Numbers
496
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Income Tax Key Numbers

Income Tax Key Numbers

Qualified charitable distributions (QCDs)

Qualified charitable distributions (QCDs) are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older can make up to $100,000 in QCDs per year. This provision has been permanently extended.

Provisions that are permanently extended

Increased Internal Revenue Code (IRC) Section 179 expense limits ($500,000 maximum amount indexed for inflation)
The $250 above-the-line tax deduction for educator classroom expenses
The ability to deduct state and local sales tax in lieu of the itemized deduction for state and local income tax

Provisions that expire at the end of 2019