Qualified Charitable Contributions (QCDs) are distributions from an Individual Retirement Account (IRA) made directly to a qualified charity. For Charles Schwab account holders, you may make QCDs if you are age 70½ or older, and the maximum annual QCD limit is $100,000 per individual. Any QCDs count towards your required minimum distribution. They are not included in your taxable income and they offer no itemized deduction. To make a QCD, request a distribution from your IRA and specify the charity as the payee. Always consult with a tax advisor before making QCDs to understand the implications for your personal tax situation.
पूछा गया May 22, 2024 11:56 PM