TAX-FREE DISTRIBUTIONS FROM AN IRA2020-05-04T19:26:23+00:00

creating my legacy

TAX-FREE DISTRIBUTIONS FROM AN IRA
If you’re over the age of 70 ½, a qualified charitable distribution may be right for you.

Benefits of a QCD

One of the largest benefits of a QCD is fulfilling all or part of your RMD while avoiding paying taxes on the gifted amount of the RMD. Due to the decreased balance of your IRA, it may minimize future required withdrawals. To avoid being taxed, the gift must be made directly from your IRA, and you may donate up to $100,000 to a charity.

If you are taking distributions on your IRA that you don’t need or want, consider making a charitable gift through a QCD.  Here is a sample letter you can adjust for your administrator.