IRAs and Required Minimum Distributions

Use your IRA Required Minimum Distribution (RMD) as a tax-advantaged contribution to TCS

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.

March 2024

09
March
Sat
2024
5:00 pm

Unclouded Day

Unclouded Day

Date: March 9, 2024Time: 5:00 pm America/New_YorkVenue: Church of the EpiphanyLocation: 1317 G St NW, 20005, Washington, DC, United States, Website: View Events Website
Embark on a journey to a future steeped in unity and hope. At the heart of our program is “Build Ye the Walls,” TCS’ most recent commission by Evelyn Simpson-Curenton that calls us to rebuild our communities with “the walls of peace, justice and...

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