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IRA Required Minimum Distribution

Donors 72+ Years of age can make a gift directly from your IRA. By making a qualified charitable distribution (QCD) you not only support Light of Life but also help to satisfy your required minimum distribution.

When you donate stock to charity, you'll generally take a tax deduction for the full fair market value. And because you are donating stock, your contribution and tax deduction may instantly increase over 20%.- Fidelity Charitable


Required Minimum Distributions (RMDs) must be taken each year beginning with the year you turn age 72?

The RMD for each year is calculated by dividing the IRA account balance as of December 31 of the prior year by the applicable distribution period of life expectancy. This rule does not apply to your Roth IRAs. You can determine your distribution period or life expectancy by using the Tables in Appendix B of Publication 590-B Distributions from Individual Retirement Arrangements (IRAs).

Access Appendix B

Table I - For Beneficiaries

Table II - For owners whose spouse is 10 years younger and the IRA's sole beneficiary

Table III - For all other owners (most IRA owners will use this table)

See the discussion of Required Minimum Distributions and worksheets to calculate the required amount.

Access RMD Worksheet

Qualified Charitable Distributions

What is a qualified charitable distribution?

Generally, a qualified charitable distribution is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is over the age of 72 that is paid directly from the IRA to a qualified charity. See Pub. 590-B, Distributions from Individual Retirement Arrangements (IRA) for additional information.

Access to Pub. 590-B

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