Need to take a required minimum distribution from your IRA in 2023? A Qualified Charitable Distribution (QCD) to a charity like Wisconsin Farm Bureau Foundation could help satisfy your distribution requirements. Additionally, a QCD could reduce your taxable income while meeting your charitable giving goals.
More details about a Qualified Charitable Distribution:
- Distributions can be made directly to a qualified charity, such as Wisconsin Farm Bureau Foundation, through your IRA custodian.
- In most cases, tax-free gift(s) can be made to one or more qualifying charities up to $100,000 annually.
- Your IRA manager and/or financial institution can provide details on how to initiate a QCD.
- You will receive an acknowledgement of your gift from Wisconsin Farm Bureau Foundation.
- Your financial and tax professionals can offer more information about making a QCD as it relates to your situation.
Your gift will support the Wisconsin Farm Bureau Foundation’s mission of investing in education and professional development to grow awareness and understanding of agriculture. Supported programs include Agriculture in the Classroom, Young Farmer and Agriculturists, Collegiate Farm Bureau, Leadership Institute, Farm Neighbors Care, and others.
Contact Wisconsin Farm Bureau Foundation Director John Hromyak for more information about giving to the Wisconsin Farm Bureau Foundation at email@example.com or 608-893-0697.
This article is educational and not intended to provide financial or tax planning advice. Please be sure to consult with your financial and tax professionals prior to initiating a qualified charitable distribution or any charitable transaction.