A Qualified Charitable Distribution (QCD) lets IRA owners age 70½+ transfer up to $108,000 (for 2025) directly from their IRA to a qualified charity, satisfying all or part of their Required Minimum Distribution (RMD) tax-free, reducing taxable income, and potentially lowering Medicare premiums, without needing to itemize deductions. It must be a direct IRA-to-charity transfer, not passing through your hands, and is a great tax-smart way to give.
Richmond First United Methodist Church
Serving Richmond Since 1900
