Current tax law allows individuals to make charitable donations directly from their IRA through Qualified Charitable Distributions. A qualified charitable distribution (QCD) is a distribution from a traditional or Roth IRA made directly by the IRA trustee to a qualified charitable organization (Right to Life of North Central Indiana is a qualified charity) when the IRA owner is age 70½ or older. A QCD may satisfy the client’s required minimum distribution (RMD) and, for 2024, up to $105,000 of QCDs may be excluded annually from an individual’s taxable income.
For more information, see this document from Edward Jones.
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