Make a Qualified Charitable Distribution from Your IRA
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A qualified charitable distribution from an IRA is a good way for IRA owners age 70½ and over to support our work. It’s easy to do.
- Instruct your IRA custodian to make a distribution directly to our organization.
- Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes—no tax is due!
- Up to $100,000 of your gift (annual aggregate limit) qualifies for this favorable tax treatment.
- Your gift makes an immediate impact.
- A qualified charitable distribution from an IRA counts toward a donor's required minimum distribution (RMD) if one is due. Contributions to your IRA after age 70½ can impact the amount eligible for a tax-free transfer.
A New QCD Option To Consider
Starting in 2023, IRA owners age 70½ or older can make a one-time, tax-free IRA distribution of up to $50,000 to create a charitable gift annuity or a charitable remainder trust. The distribution counts toward your RMD if one is due. This is an option worth considering if you want to make a gift from your IRA and establish a new income stream.
Please contact us to learn more about planning and completing a qualified charitable distribution, or click here to calculate your required minimum distribution.
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Questions? Please contact:
SARAH WALLACEDIRECTOR OF PLANNED GIVING AND RESEARCH |
| P: 860-404-4267 |
Where Next?
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Make A Gift
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Giving
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