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The Consolidated Appropriations Act of 2016 made permanent Qualified Charitable Distributions (QCDs) from individual retirement accounts for taxpayers age 70½ and older. This allows for annual direct transfers of up to $100,000 in tax-deferred IRA funds to a qualified charity.

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QCDs help avoid the disadvantages of taking an IRA distribution and then making a charitable gift, such as increased Social Security taxes, AGI limitations on itemized deductions, and higher Medicare premiums.

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Importantly, QCDs also satisfy required minimum distributions (RMDs) for taxpayers age 70½ and older—an important advantage for IRA owners who do not need those funds for living expenses.

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For more information on how a Qualified Charitable Distribution can benefit both you and the Boys & Girls Club of Camarillo, please download our PowerPoint presentation below.

Click here to download the PowerPoint presentation.