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Great Questions from Our Clients
 

Can I make charitable gifts directly from my IRA?

Can I make charitable gifts directly from my IRA?

Yes, you can make charitable gifts directly to your favorite public charities if you are 70 ½ or older. These Qualified Charitable Distributions (QCDs) are capped at $100,000 per year in 2024 and then indexed to inflation. While QCDs are reportable, they are not taxed as income.

Taking a taxable distribution and then making a deductible contribution is less efficient than a QCD.

Please check with your tax advisor to see if utilizing QCDs makes the most sense for you.

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White Plains, NY 10606

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914.328.6670 fax

info@PSGwealth.com

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