Are you moving into retirement and looking for ways to reduce your taxable income? A Qualified Charitable Distribution (QCD) is a wonderful way to support the ministries of the ELCA, meet your required minimum distribution and reduce taxable income.
Why should you use a QCD?
Distributions redirected to a charity are not considered income
Because these distributions aren’t added to your income, you may qualify for lower Medicare premiums and lower Social Security tax rates and avoid higher tax rates and phaseouts.
They may count toward your RMDs.
You don’t have to change your will or trust.
It’s simple to report on your 1040 form.
Your gifts immediately support the ELCA programs of your choosing.
Read more about QCDs here to determine if this is the right way forward for you.
