A Qualified Charitable Distribution (QCD) allows you to transfer funds directly from your Individual Retirement Account (IRA) to a nonprofit like Teens for Food Justice (TFFJ) without paying income taxes on the amount.
If you’re 70 ½ or older, a QCD can count toward your required minimum distributions (RMDs) for the year, helping you fulfill charitable goals while reducing your taxable income.
Check with your financial advisor or IRA custodian to ensure your distribution qualifies as a QCD.
Review how much of your required minimum distribution you’d like to donate.
Instruct your IRA custodian to make the transfer directly to TFFJ.
