Giving From Your IRA Distribution

If you are 70.5 years or older, you may make a Qualified Charitable Distribution (QCD) from your IRA to St. Theresa parish without paying federal income tax on those funds. The funds transferred will count toward your required minimum distribution. These funds transferred to charity do not qualify for a charitable deduction, but do become exempted from taxable income. Your disbursement must come directly from the administrator of your IRA to the parish. You cannot receive the funds first.  Please contact the administrator of your IRA with any tax or account-specific questions.   
                                           
If you have any questions about how your giving may impact your taxable income, please consult a tax advisor.