If you’re age 70½ or older and have an IRA, qualified charitable distributions (QCDs) are an option for making tax-free gifts to charity of up to $100,000. Moreover, if you’re at least age 72, QCDs count toward your required minimum distribution for the year. Note that if you wish to make a QCD for 2022, you should contact your IRA trustee soon so he or she will have time to complete the transaction before year end. Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, distributions are tax-free as long as they’re paid directly from the IRA to an eligible charitable organization. Call or visit our website for more information! www.mjscpa.com/
