Did you know you can donate your required IRA minimum distribution to Alzheimer’s Los Angeles?

A qualified charitable distribution (QCD) is a direct transfer of funds from your IRA, payable to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year 2018, as long as certain rules are met:

• The distribution must be made directly from the IRA to the eligible charity to qualify for the tax deduction.
• You must be 70½ or older to be eligible to make a QCD.
• QCDs are limited to the amount that would otherwise be taxed as ordinary income (this excludes non-deductible IRA contributions).
• The maximum annual amount that can qualify for a QCD is $100,000 per person.

The amount donated to charity is excluded from taxable income, which is unlike regular withdrawals made from an IRA.

This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.