QCD or RMD?

Are you 72 or older?  Have you lost the ability to fully deduct charitable contributions because you no longer itemize federal income tax deductions?  Do you make donations to St. Ann church regularly? 

If you answered yes to these questions, you may want to consider making a Qualified Charitable Distribution (QCD).  A QCD is generally a non-taxable distribution made directly by the trustee of your IRA to St. Ann or other qualified charities.  A QCD reduces your Adjusted Gross Income (AGI) and thereby reduces taxes.  If you are receiving a Required Minimum Distribution (RMD) from your IRA, a QCD can be used to help satisfy the RMD.   Please consult your tax advisor or tax return preparer to determine if a QCD could benefit you.