Giving a Qualified Charitable Distribution

What is a qualified charitable distribution QCD?

A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $100,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions.

 

The benefits:

 

The qualified charitable distribution (QCD) rule allows traditional IRA owners to deduct their required minimum distributions (RMDs) on their tax returns if they give the money to a charity. By lowering your adjusted gross income (AGI), the QCD rule can effectively reduce your income taxes.

Check with your IRA Custodian for more details. They generally require authorization in writing from you on who to send the money to, what amount and the preferred method of delivery. Most WILL donors opt to have a paper check sent directly to WILL.

Contact Lesley Luehrs, WILL Development Director, for more information: Lesley@will-law.org or call (414)617-1144

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