Qualified Charitable IRA Distribution

What is a qualified charitable distribution?

Generally, a qualified charitable distribution is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. See Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) for additional information.

Can a qualified charitable distribution satisfy my required minimum distribution from an IRA?

Yes, your qualified charitable distributions can satisfy all or part the amount of your required minimum distribution from your IRA. For example, if your current required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution for for that year , you would have had to withdraw another $5,000 to satisfy your current required minimum distribution.

Please contact your financial adviser to determine if supporting our Foundation through a Qualified Charitable Distribution is right for you. Your advisor or broker can contact us for further information.