If you are at least 70 1/2 years old, you can make tax-free charitable donations directly from your IRA. These gifts, also known as “charitable IRA rollovers,” would otherwise be taxable IRA distributions.

In order to make a Qualified Charitable Donation, or a QCD, you simply instruct your IRA trustee to make a distribution directly from your IRA (other than SEP or SIMPLE IRAs) to a qualified charity. The distribution must be one that would otherwise be taxable to you. You can exclude up to $100,000 of QCDs from your gross income each year.

To learn more about the benefit of using QCDs, talk to your financial advisor or accountant today!