A Better Way to Take Your RMDs?- Season 4: Episode 7
December 22, 2020
Required minimum distributions (RMDs) are just a fact of life for most owners of an IRA or retirement plan account. While RMDs are suspended for 2020, under normal circumstances, you typically must begin taking minimum withdrawals from those accounts (in most cases) at age 72.
Given these circumstances, if you’re charitably inclined, you may be able to take advantage of a little-known strategy known as a Qualified Charitable Distribution from your IRA, and perhaps get some tax advantages that you otherwise would not have had.
How does it work, and who can potentially use it?