Qualified Charitable Distribution

A Qualified Charitable Distribution is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 72 or over that is paid directly from the IRA to a qualified charity.

The qualified charitable distribution (QCD) rule allows traditional IRA owners to deduct their required minimum distributions on their tax returns if they give the money to a charity. By lowering your adjusted gross income, the QCD rule can effectively reduce your taxes.
You will benefit even if you do not itemize your deductions, as the transfer does not generate taxable income or a tax deduction. In addition, the gift does not count as income and can help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax. 

Contact Us
For more information on including Chaminade College Preparatory in your estate plans, please contact:
Kristine D. Calara
Vice President of Advancement

List of 1 items.

  • We pride ourselves in living out the charism and values

    of what makes our school distinctly Catholic.

Translate this page: