Qualified Charitable Distributions

Qualified Charitable Distributions (QCDs) are direct transfers of funds from an individual retirement account (IRA) to a qualified charity. For individuals aged 70½ or older, QCDs allow you to donate up to $100,000 per year without it counting as taxable income. This can reduce your taxable income and satisfy required minimum distributions (RMDs) from your IRA. By using QCDs, you can support charitable causes while also benefiting from potential tax advantages, making your donations more impactful.