Qualified Charitable Distributions (QCDs)
A wonderful opportunity if you are age 70½ and older
Did you know? You can make a meaningful gift directly to a qualified charity (up to $105,000) per year from your IRA without having to pay any income taxes on the money.
While withdrawals from traditional IRAs are taxable income, qualified charitable distributions (QCDs) are not and can satisfy some or all of your required minimum distribution if you are age 73* or older. QCDs can also be used whether you take the standard deduction or if you itemize deductions. But QCDs do not qualify for charitable tax deductions.
*Note: The SECURE ACT 2.0 raised the age to start taking required minimum distributions (RMDs) from 72 to 73 starting in 2023. Learn more.
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