Medicare

Ask Kim: Tapping an IRA for charity

Q: I read your column explaining that making a tax-free transfer from your IRA to a charity is even more attractive now that fewer people will be itemizing their deductions under the new tax law. But if I still itemize, is there a benefit to making the tax-free transfer rather than just withdrawing my required minimum distribution and then writing a check to the charity and taking the deduction?

A: Yes, even if you itemize, you can still benefit from making a tax-free transfer from an IRA to a charity, also known as a qualified charitable distribution.

A qualified charitable distribution, or QCD, is available to those who are 70 1/2 or older and allows them to directly...

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