For those 70 ½ or older, each year you can instruct your IRA custodian to make a Qualified Charitable Distribution (QCD) to an eligible charity such as Beaufort History Museum and avoid paying the tax had you taken the distribution as income. If you have any questions about the tax implications of whether this option is right for you, we recommend consulting a tax professional, your financial advisor, or both.
Here are the basic steps involved.
Beaufort History Museum
P.O. Box 172
Beaufort, SC 29901