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?

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.