IRA Qualified Charitable Deduction

 

Donate to PPM directly from your IRA with a QCD 2016

 

QCD – Qualified Charitable Deduction

PPM supporters eligible to withdraw funds from an IRA can take advantage of “one of the biggest breaks in the tax code” known as a Qualified Charitable Deduction (QCD). A QCD is an otherwise taxable distribution from an IRA owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. This has the advantage that the amount is not included in adjusted gross income, so reduces taxes while benefitting the charity.   You submit a request to the IRA administrator with the exact name of the charity, such as Princeton Pro Musica, and amount. The IRA writes the check and either sends it directly to the charity or sends to you to forward to the charity with a nice note. At tax time, just check the QCD box and enter the amount.   For more info, contact your IRA administrator or check https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-distributions-withdrawals.