Qualified Charitable Distributions (QCDs), also know as IRA Charitable Rollovers, are a savvy way for individuals 70 ½ or older to reduce their taxable income while maximizing their charitable impact. A QCD is generally a non-taxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to a qualified charitable organization, such as the Quad Cities Golf Classic Charitable Foundation (d/b/a John Deere Classic & Birdies for Charity). You can make up to $100,000 in these charitable distributions annually, lowering your taxable income, with some exceptions. If you are 72 or older, your QCD to the Bonus Fund and/or other participating charities can satisfy all or part of your required minimum distribution (RMD) from your IRA. It's important to consider your unique tax situation when considering a charitable contribution from your IRA and to understand your specific exceptions. Please consult your advisor regarding your unique situation.
Please note: Qualified Charitable Distributions are not eligible for JDC/Platinum Tee Club benefits per IRS regulations.
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