IRA Qualified Charitable Distributions

An IRA Qualified Charitable Distribution (QCD) is now a permanent way to make a tax-free gift. This gift may also be used to satisfy your required minimum distribution.

To Qualify:

• You must be 70 1/2 years old or older at the time of the gift.
• Gifts must go directly from your IRA to the Animal Care Sanctuary.
• Gifts must come from a traditional IRA or Roth IRA account.
• Gifts cannot exceed $100,000 per donor per year.

Benefits of an IRA QCD

• Gifts can satisfy your required minimum distribution without increasing your income taxes.
• You will not pay taxes on your IRA withdrawal when gifted to the Animal Care Sanctuary.
• Giving a QCD directly from your IRA can allow you to benefit from charitable giving even if you don’t normally itemize your deductions.

Three factors must be satisfied.

1. A QCD must come from a Traditional IRA or an Inherited IRA where the beneficiary is 70 ½. QCD’s cannot be made from employer-sponsored retirement accounts, like a Simple IRA or SEP IRA. These accounts must be first rolled over into an IRA Rollover before they can qualify.
2. The distribution must transfer directly to a qualified charity. “Qualified charity” includes all 501(c)3 organizations.
3. You must receive a confirmation letter from the charity.

Have questions or need additional information?

tmckendry@animalcaresanctuary.org

Nothing on this website should be construed as legal advice. Please contact your attorney or financial advisor to determine what is best for your personal situation.