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…..a great source for charitable gifts to St. Peter Church and the ministries you care about.
• You must be at least 70½ years old at the time you request a QCD.
• The funds must come out of your IRA to reduce or satisfy your Required Minimum Distribution (RMD) by the yearly deadline, which is generally December 31 each year.
• A QCD distribution may lower your adjusted gross income and the figures that depend on it , such as the taxation of Social Security and certain Medicare premiums.
• If a distribution check is made payable to you, the distribution would NOT qualify as a QCD and would be treated as taxable income.
• The maximum annual distribution amount that can qualify for a QCD is $111,000. If you are a joint tax filer, both you and your spouse can make $111,000 QCD from your own IRAs.
• To receive confidential help with the foregoing, at no cost to you, please contact St. Peter Christian Estate Planner, Ray Pagels , on his cell : 847-226-2262 or his email at Raymondpagels1@gmail.com
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