Make a Qualified Charitable Distribution (QCD) of Individual Retirement Account (IRA) assets to save on your taxes and more.
If you’re age 70½ and older, you can direct up to $100,000 per year tax-free from your IRAs to operating charities through QCDs regardless of whether you itemize deductions or claim the standard deduction.
By decreasing the IRA balance, a QCD may also reduce your taxable income in future years, lower your taxable estate, and limit your IRA beneficiaries’ tax liability.
Note: QCD requests generally should be initiated by early December at the latest to ensure processing is complete before the end of the year.