Arvid and Judy are over age 70½. They are able to make a Qualified Charitable Distribution (QCD) from their IRA. This transfers money from their IRA directly to Time of Grace. It serves as their minimum required distribution (RMD) from their IRA.
In this way, Arvid and Judy are able to satisfy the federally required annual withdrawal from their IRA and provide for Time of Grace's ongoing ministry. They can avoid taxes on transfers of up to $100,000 from their IRA to Time of Grace and make a gift that is not subject to the 50% deduction limits on charitable gifts.
Is an IRA Qualified Charitable Distribution right for you?
If you would like to make a gift in this way to support Time of Grace Ministry, please contact us. We would be happy to assist you and answer any questions that you have.
*Please note: Since the benefits of a QCD may differ depending on your personal circumstances, please consult with your legal, tax, or financial advisor.