Donating to a Charity Using a Qualified Charitable Distribution (QCD)

“If you are looking to make a non-deductible donation to charity, you may want to consider a QCD.

If you are age 72 or older, IRS rules require you to take required minimum distributions (RMDs) each year from your tax-deferred retirement accounts.

The CARES act temporarily waives required minimum distributions (RMDs) for all types of retirement plans (including IRAs, 401(k)s, 403(b)s, 457(b)s, and inherited IRA plans) for calendar year 2020. This includes the first RMD, which individuals may have delayed from 2019 until April 1, 2020.” Continue reading.

Source: Fidelity
5-minute read.