A Qualified Charitable Distribution (QCD) allows individuals age 70 1/2 and older to donate up to $108,000 from an IRA account to charity- and use some or all of those funds to satisfy the Required Minimum Distribution (RMD) for the year.
General Outline of QCDs:
QCDs are a great tool for managing taxable income in retirement while also helping a worthy cause. To ensure your QCD benefits both you and SALUTE, INC., it is important to initiate the distribution directly from your IRA custodian to SALUTE on your behalf.
If you have any questions, or if you wish for your gift to be used for a specific purpose , please contact Kelli Wegrzyn at controller@saluteinc.org
Note: Individual tax situations may vary; please consult with your tax advisor. SALUTE, INC. is a public charity classified as exempt under section 501(c)(3) of the Internal Revenue Code. The tax ID number is 06-1718308.