Want to help those impacted by cancer and potentially receive a tax benefit? If you are at least 70½ years old, you can make a Qualified Charitable Distribution (QCD) from your IRA of up to $100,000 per year. Amounts distributed as a QCD can be excluded from your taxable income.

A QCD has the following requirements:

• You must be at least 70½ years old at the time you request a QCD.
• For a QCD to count toward your current year’s Required Minimum Distributions (RMD), the funds must come out of your IRA by your RMD deadline, which is generally December 31.
• Funds must be transferred directly from your IRA by requesting your IRA custodian to issue a check from your IRA payable to the charity. You can then request that the check be mailed to the charity or forward the check yourself. If a distribution check is made payable to you, the distribution would NOT qualify as a QCD and would be treated as taxable income.

For answers to specific questions about your personal accounts, please contact your financial advisor. For more information, please contact Deanna Stuart, Vice President of Philanthropy, at Deanna@CancerCareServices.org.