IRA owners over age 70½ can designate their required minimum distribution (RMD) be made to the LWVPBC Education Fund as a qualified charitable distribution (QCD). Doing so avoids the directly donated portion of their RMD from being taxable income, up to $105,000.
In addition to avoiding tax on the amount of the RMD, QCDs can help donors whose RMD would otherwise push them into a higher income tax bracket, and it may prevent phaseouts of other tax deductions. Consult your tax professional about the benefits and requirements.
QCD can be made:
• Electronically directly to LWVPBC Education Fund. Contact Us for directions.
• By check made payable to LWVPBC Education Fund, 9314 Forest Hills Blvd, Wellington, FL 33411-6577.