Qualified Charitable Distributions

Details

Who: You are over the age of 70.5 and have an IRA.

Why: Charitable gift that reduces your taxable income with or without itemizing.

How: Check is written directly to charity from IRA, not greater than your RMD.

Considerations:

• QCD must come out first before any other funds in the calendar year
• QCD gift is irrevocable
• Maximum QCD allowed amount is 100k per year, per spouse
• Consult your qualified professional (financial advisor and tax advisor)