Qualified Charitable Distributions

People may donate to Channel One with a qualified charitable distribution (QCD) to manage their required minimum distributions from an IRA. A QCD allows people who are 70½ years old or older to donate up to $100,000 total to charities directly from a taxable IRA instead of taking their required minimum distributions.

Why is a QCD better than a charitable deduction?

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

If you have any questions about how to donate to Channel One with a QCD, please contact Jessica Sund at [email protected] or 507-424-1729.