IRA distributions are normally taxable events. However, you may avoid the tax burden by making a qualified charitable distribution (QCD) to the Sacramento Guitar Society.
Review the summary of the IRS regulations shown below and speak with your tax adviser.
When you are ready, email our organization’s treasurer to make arrangements.
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According to the IRS Publication 590,
“A qualified charitable distribution (QCD) generally is a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to an organization eligible to receive tax-deductible contributions. You must be at least age 70½ when the distribution was made. Also, you must have the same type of acknowledgment of your contribution that you would need to claim a deduction for a charitable contribution. See Records To Keep in Pub. 526.”