I have helping been making QCDs from my husband’s IRA from both Schwab and Fidelity for years. We never have them mail any checks to us—checks are issued directly from the brokerages to the charities. We complete a form on each website and send it in and the check is sent out in that calendar year. We keep a copy of the form to show the QCDs for our tax files.
Schwab offered to give us a checkbook to make QCDs but I declined and have them continue to write the checks. Fidelity says we can just call their retirement folks to make the QCDs but we prefer to mail in the signed form.
We have so far not chosen to have a donor advised fund as we are not fond of the annual fee that will be charged for assets under management. QCDs work well for us—up until we qualified for QCDs, we were busy paying off mortgage and kids’ college expenses and didn’t have much to donate.
Schwab offered to give us a checkbook to make QCDs but I declined and have them continue to write the checks. Fidelity says we can just call their retirement folks to make the QCDs but we prefer to mail in the signed form.
We have so far not chosen to have a donor advised fund as we are not fond of the annual fee that will be charged for assets under management. QCDs work well for us—up until we qualified for QCDs, we were busy paying off mortgage and kids’ college expenses and didn’t have much to donate.
Statistics: Posted by HIinvestor — Thu Jun 27, 2024 4:51 am — Replies 27 — Views 1736