When planning your IRA Distributions, QCD’s can be counted toward satisfying your required minimum distributions (RMD’s) for the year.
To make a QCD you must be 70 1/2 years old, the maximum tax free amount is $100,000 and funds must come out of your IRA and go directly to the charity of your choice. As always, please consult your financial advisor.
As 2020 is a unique year due to COVID-19, the CARES Act allows you to forego your RMD but with the political landscape uncertain it might be prudent to make a donation this year not knowing the tax situation going forward.
Please contact our Department of Development at (516) 378-2000 ext. 651 to arrange for your contribution to the Cerebral Palsy Association of Nassau County.