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Qualified Charitable Distribution

QCD: A Wise Charitable Gift – A Qualified Charitable Distribution (QCD) is a tax-efficient way for individuals who are 70½ years old or older to donate money to eligible charitable organizations directly from their Individual Retirement Account (IRA) without incurring income tax on the distribution. 

Benefits

  1. Can count towards the required minimum distribution (RMD) that must be taken annually from an IRA, up to a maximum amount of $105,000 per year, which can help reduce the tax burden on IRA distributions.
  2. A QCD can be a tax-efficient way for individuals aged 70½ or older to donate money to charity
  3. Maximizes charitable impact and potentially avoids tax implications that may come with taking a traditional IRA distribution.
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