- > How does it work?
- > If you are required to receive annual “minimum required distributions” from an IRA, you can direct these distributions, tax-free, to the Jewish Federation of Cincinnati to make a current gift or to fund a legacy gift.
- > To make this Qualified Charitable Distribution, instruct your IRA administrator to make the distribution, in the amount you choose (up to $100,000 annually), directly to the Federation, instead of distributing that amount to you.
- > What are the benefits?
- > Regardless of whether or not you itemize, a Qualified Charitable Distribution from your IRA is not considered taxable income and therefore is not included in your adjusted gross income. This can also potentially lower Medicare premiums and taxation on Social Security income.
- > It enables you to fulfill your required minimum distribution and use the proceeds to make tax-free gifts to charities.
- > You can designate your contribution to make a current gift or begin funding your legacy gift.