IRA Required Minimum Distribution
If you were born before June 30, 1949 and you have a traditional IRA, you’re eligible to make a tax-free donation to United Way of Central and Northeastern Connecticut directly from your IRA, even if you don’t itemize deductions on your tax return. It’s called a Qualified Charitable Distribution (QCD) and it uses funds that you’re already required by law to withdraw from your IRA.
It’s a simple but highly-effective way to support local children and families, while minimizing the tax bite associated with IRA distributions.
You can give from your IRA* directly to United Way of Central and Northeastern Connecticut without having to pay income taxes on the money.
It’s a win for the community and for you.
*Maximum allowable contribution from an IRA RMD is $100,000; please consult your financial/tax advisor to determine your required minimum distribution.