Beginning in 2024, eligible senior taxpayers may donate more from their IRAs with qualified charitable distributions (QCDs). Owners or beneficiaries of IRAs who are 70½ or older can make QCDs directly to IRS-approved charities. In 2024, the annual QCD limit is $105,000 (up from $100,000 in 2023). In 2025 it rises to $108,000. This limit is per account owner, so spouses with separate IRAs can each make QCDs up to the limit. If you’re subject to annual required minimum distributions, you can use a QCD to satisfy that obligation. While you can’t claim a charitable deduction for the QCD on your tax return, the donation amount is excluded from your taxable income. Contact us with questions.
