What is a Qualified Charitable Distribution (QCD)?
When individuals take distributions from their IRAs, it usually counts as income for tax purposes. QCDs, also called IRA Charitable Rollovers, are an exception. Individuals 70½ years of age or older can distribute up to $100,000 each year from their IRAs to their favorite 501(c)(3) organizations without counting the distribution as income.
Making a QCD can be an option to lower your income taxes while doing good for others. If you’re age 72 or older, QCDs count toward your Required Minimum Distribution (up to $100,000), effectively lower your adjusted gross income and often bring about many tax benefits. The penalty for missing an RMD is 50% of the amount that was supposed to have been distributed.
Please consult your tax advisor for information regarding your specific exceptions.
How to make a qualified charitable distribution to RMHCPT?
Your qualified charitable distribution must be made directly from your IRA custodian to RMHCPT on your behalf.
Please have them make checks payable to:
Ronald McDonald House Charities® of the Piedmont Triad
419 South Hawthorne Road
Winston-Salem, NC 27103
Have you already made your qualified charitable distribution?
If you’ve already made a gift to RMHCPT, thank you! To ensure we are able to thank you properly, please complete the following form:
*Please note that RMHCPT does not provide tax or legal advice. Speak with your professional tax and/or legal advisor with questions about Qualified Charitable Distributions and gifts to RMHCPT.