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Qualified Charitable Distributions from an IRA


Qualified Charitable Distributions from an IRA

A qualified charitable distribution (QCD) from an IRA is an option for retirees who are over the age of 70.5 to give up to $100,000 (indexed for inflation starting in 2023) a year to certain qualified charities. With a QCD, the donation is made directly from an IRA to the charitable organization, which means you don't have to include that distribution in your taxable income. Even though you don't get a tax deduction from a QCD, it can be a tax efficient way to give—since the alternative of taking that distribution in to your income first and then making a donation could result in a higher tax on your Social Security benefits and Medicare premiums. In addition, a QCD can be used towards your required minimum distribution.

Next Steps

Please fill out the form below to view all necessary information for a securities transfer including DTC number, brokerage name, account number, legal name and physical address. Thank you so much for your consideration!

For charitably inclined individuals, adviser Danielle Harrison outlines the many strategies available to make your charitable dollars go further. Click the link below to learn more.

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