Qualified Domestic Trust Qdot

A qualified domestic trust (QDOT) is a special trust that enables a surviving spouse who is not a U.S. citizen to receive the benefit…

Qualifying Annuity

A qualifying annuity is an annuity contract that has been approved for use inside a “qualified” retirement plan or an individual retirement account (IRA).…

Qualified Trust

A qualified trust is a trust used as the funding vehicle for an employer-sponsored retirement plan (for example, a pension, stock-bonus, or profit‑sharing plan)…

Qualified Opinion

Summary A qualified opinion is a modified auditor’s opinion indicating that, except for one or more specific matters, the auditor believes the financial statements…

Qualified Dividends

A qualified dividend is a dividend that meets specific IRS rules so it is taxed at the lower capital‑gains tax rates (0%, 15% or…

Qualified Distribution

A qualified distribution is a withdrawal from a tax-advantaged retirement account that meets IRS rules so the owner avoids the 10% early‑withdrawal penalty and,…

Qualified Disclaimer

A qualified disclaimer is a formal, irrevocable refusal by a beneficiary to accept an interest in property (gift, bequest, trust interest, life insurance proceeds,…

Qualified Widow Or Widower

Key takeaways – “Qualified widow(er)” is the former IRS name for the filing status now called “Qualifying Surviving Spouse.” It lets a surviving spouse…

Qualified Reservist

A qualified reservist is a member of the U.S. military reserves who is ordinarily in non‑active status but is called or ordered to active…

Qualified Production Activities Income

Qualified Production Activities Income (QPAI) was a tax concept under Internal Revenue Code (IRC) section 199 that identified the portion of a domestic manufacturer’s…