If you’re 70½ or older, you can transfer your Required Minimum Distribution to charity at any time. The donation counts as your RMD, but doesn’t increase your adjusted gross income, which can be particularly helpful if you don’t itemize and can’t deduct charitable contributions. You are allowed to make a tax-free donation of up to $100,000 from your IRA. Also, keeping some or all of your RMD out of your adjusted gross income could help you avoid the Medicare high-income surcharge or help make less of your Social Security benefits taxable. Please contact your financial planner for more information.