Qualified Charitable Distributions from your IRA
A qualified charitable distribution can help Kidpower – and you!
If you have an Individual Retirement Account, you must start taking required minimum distributions each year starting at age 73. That required minimum distribution increases your total taxable income, which could push you into a higher tax bracket and could limit some of your itemized deductions.
A QCD allows people who are 70½ years old or older to donate up to $108,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions. As a result, you may avoid being pushed into a higher income tax bracket and prevent phaseouts of other tax deductions.
While helping your taxes, you can help kids, people with disabilities, and other vulnerable people learn skills to stay safe!
How to make a Qualified Charitable Distribution from your IRA
- Contact your financial planned to find out if you qualify and if a QCD is the best choice for you.
- If you decide to make a QCD, the payment will come directly from your IRA custodian. Just tell them you’d like to direct it to Kidpower!
- Please contact us if you decide to make a distribution from your IRA. Many retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. Kidpower wants to make sure that you are properly acknowledged and thanked!
