Retirees may save with this year-end charitable donation tax strategy
As the year winds down, retirees eager to make charitable gifts may consider a tax-friendly donation from their individual retirement account.
The strategy, known as a qualified charitable distribution, or QCD, involves a direct payment from an IRA to an eligible charity.
Retirees who are age 70½ and older may transfer up to $100,000 per year, and someone who is age 72 may use a QCD to satisfy their required minimum distribution.
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