If you are among the many Drexel University alumni who are taking required minimum distributions (RMDs) from your traditional IRA, you may already know that using your RMD to make qualified charitable distributions (QCDs) is tax-smart. The amount of your QCD is excluded from your adjusted gross income (AGI) for the year, which can reduce taxes on Social Security benefits, lower Medicare premiums, and satisfy your RMD — all without increasing your tax bracket.
