An alternative way to be charitable. Taxpayers who are at least 70½, who have IRAs and who wish to donate to charity should consider qualified charitable distributions (QCDs). A QCD is transferred directly by your IRA trustee to your chosen charity. It can qualify as part or all of your annual required minimum distribution. QCDs (up to $100,000 per year) aren’t included in gross income but can’t be taken as tax deductions. They also won’t increase your adjusted gross income, which could result in overall tax savings. Contact us to learn more about this strategy.
