What steps do I need to take so that I’m not taxed on the RMD? Is there a minimum amount I can transfer or a limit to the number of charities I can send the money to? SEE ALSO: How to Report a Tax-Free Transfer From an IRA to Charity People older than 70½ can transfer up to $100,000 per year from their traditional IRAs to charity, which can count as their required minimum distribution but is not taxable if they follow the rules for a qualified charitable distribution (QCD). (This doesn’t apply to a Roth IRA, which has tax-free withdrawals and no required distributions.) The gift stays out of your adjusted gross income only if you make a direct transfer from your IRA to the charity. It doesn’t count as a tax-free transfer if you withdraw the money first and then make a donation to the charity. Ask your IRA administrator what steps you need to take, because the procedures can vary from firm to firm. Fidelity, for example, gives you several options. If you have check-writing privileges on your IRA, you can write a check directly from the IRA to the charity. Or use Fidelity’s QCD form to have money sent directly from your account.
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