Chi Phi alumni taking a required minimum distribution from an IRA and looking for a tax break, might be in luck for 2013. Alumni just reaching age 70 ½, might just be learning about this concept known as a Qualified Charitable Distribution (QCD).
Qualified Charitable Distributions (QCD) have had a volatile history in the US tax code. Congress has removed them several times and in 2012 QCDs were restricted to distributions made in December. For 2013 tax payers can receive a break for any Qualified Charitable Distributions made during the 2013 calendar year.
Should you consider a QCD? If you donât need all the income from your required minimum distribution and you want to help Chi Phi Brothers you might consider a QCD. Chi Phi Educational Trust can accept QCD gifts paid in a variety of ways and on a schedule that makes sense for you. If you are interested in receiving more information or have questions about how you can take advantage of this expanded tax legislation, contact Senior Director of Development, Elizabeth Knott, at firstname.lastname@example.org or 404.231.1824.