Make a Qualified Charitable Distribution from Your IRA
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 for 2023) qualifies for this favorable tax treatment.
- Your gift makes an immediate impact.
- A qualified charitable distribution from an IRA counts toward a donor's 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 (in 2023) to create a new charitable gift annuity (CGA) or a charitable remainder trust (CRT). This 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.
Note that spouses may contribute up to $50,000 each from their individual IRAs into a single CRT or a joint-life CGA. Payments may only go to you and/or your spouse.