The Qualified Charitable Distribution (QCD) rule allows traditional Individual Retirement Account (IRA) owners to deduct their Required Minimum Distributions (RMDs) on their tax returns if they give the money to a tax-exempt 501 (c)(3) organization (other than a DAF).

To make a QCD, you must be at least 70½ years old on the date of the distribution. The amount of a QCD cannot exceed $100,000 per year for individual taxpayers or $200,000 per year for married couples filing jointly. You do not have to itemize deductions in order to benefit from a QCD.

To see whether your Retirement Account qualifies for this tax-saving provision, click here.

To learn more, here are some articles that may be helpful:

— Two tax-smart strategies for charitable giving with an IRA

— How to Reduce Your Taxes and AGI by Giving to Charity

We recommend you consult a tax or investment professional to understand how this applies to you.

For instructions on how to donate via a QCD to Focus for Democracy Fund, click here.

Yes. You will receive a tax receipt from what ever 501(c)(3) entity processed the donation (sometimes a fiscal sponsor). Receipts will go out in January of the year following the donation.

Focus for Democracy is unlike other entities in that we usually ask that donations go directly to the organizations we have evaluated and recommend, rather than to us. So if you choose to check services like Charity Navigator, look up our recommended organizations instead. For instance, Working America’s Education Fund, a 501(c)(3) is listed here: https://www.charitynavigator.org/ein/202035052