As you begin thinking about your charitable giving for this year, we want to make you aware of a potential tax saving strategy known as Qualified Charitable Distributions (QCD). Once you are 70½, you can have a donation paid directly from your IRA to a charity. The amount of the donation is then excluded from your taxable income.
Keep in mind that QCD checks must be made payable directly to an eligible charity (most public charities are eligible). Also, any QCDs will be reported on your 1099 as non-taxable income.
To initiate a QCD, please contact our office with the following information:
- The contribution amount
- The full name of the charity
- The address of the charity
Our office will prepare the QCD check and you will be responsible for delivering the check to the charity. QCD requests should be made by December 1, 2025 to ensure enough time for processing and delivery.
If you must take a Required Minimum Distribution (RMD) from an IRA, QCDs can count towards satisfying your RMD for the year.
If you have any questions, please don’t hesitate to call:
Green Bay Office: 920.272.2273
Manitowoc Office: 920.682.4100
Sturgeon Bay Office: 920.818.0255
RMDs are generally subject to federal income tax and may be subject to state taxes. You must be 70 ½ or older to be eligible to make a QCD. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.