Planning your IRA withdrawals?
Consider donating to the Friends of the Blue Hills through a Qualified Charitable Distribution!
Donations from people like you are vital to caring for the Blue Hills. Thanks to recent tax changes, donating to the Friends of the Blue Hills through a qualified charitable distribution (QCD) may save you money – while helping to care for the Blue Hills.
What is a QCD?
It’s a tax-free withdrawal from an individual retirement account (IRA) that is sent directly to a charity. [401(k) accounts are not eligible.]
Who can make a QCD?
Anyone who owns one or more IRAs and is 70½ or older.
How does a QCD help?
By donating to the Friends of the Blue Hills directly in the form of an IRA withdrawal (RMD), you may potentially exclude the amount of the gift from your taxable income – even if you’re taking the standard deduction.
What do I have to do?
Instead of taking your RMD personally and having to pay tax on it, you can instruct the IRA custodian to make a direct distribution of any amount (up to $100,000 annually) directly payable to the Friends of the Blue Hills (a qualified charity).
The information above is not meant to be professional tax, financial or legal advice. It is highly recommended that you consult your tax advisor, estate planner or investment advisor to determine if a QCD is the right move for you or those you know.
Questions? Please contact:
Judy Lehrer Jacobs, Executive Director
Photo: Matthew Thomas