Qualified Charitable Distributions (QCD)
An IRA giving opportunity for those over 70½: Federal legislation allows you to make “Qualified Charitable Contributions” from your IRA directly to a qualified charity, such as our church. This QCD is excluded from your gross income, and you pay no tax on the distribution. This method of giving can be used for your annual gift or a planned gift.
Some of the details of the QCD:
• Donors must be age 70½ or older at the time of transfer;
• Distributions must be made (1) directly from the IRA trustee, (2) directly to the qualified charity, such as our church;
• Gifts up to $100,000 are eligible;
• This qualifies toward the IRA owner’s Required Minimum Distributions;
• Distributions are not included in the owner’s adjusted gross income;
• No taxes are paid on qualified charitable distributions; and
• “Qualified Charitable Contributions” can not be made from 401(k) or 403(b) accounts and can not be made to charitable remainder trusts, gift annuities or donor advised funds.
Contact your financial advisor to learn how this could be advantageous to you. For questions, contact Malinda Kirchner in the church office at 501-227-0000 or firstname.lastname@example.org.