IRAs and Required Minimum Distributions

If you are required to take a Required Minimum Distribution (RMD) from your traditional IRA, it can be used as a tax-advantaged contribution to Thomas Circle Singers.

Now that Congress has made the Qualified Charitable Distribution provision in the tax code permanent, this is a great way to fund your giving to Thomas Circle Singers and not have the RMD count towards your adjusted gross income. If you instruct the investment firm that is your IRA custodian to send your RMD or a portion of it directly to Thomas Circle Singers, then it will not be reflected as part of your income. Please be aware that the distribution cannot be passed through you, but has to be made payable directly to Thomas Circle Singers to avoid having your RMD calculated into your adjusted gross income.

If you are 70 1/2 or older, this may be a good opportunity for you to stay below the threshold for the Medicare high-income surcharge or help make less of your Social Security benefits subject to tax. You should check with your own tax adviser to confirm that this is something that would be appropriate for you.

To request an RMD Distribution form, please contact tcs@thomascirclesingers.org.