IRA Rollover or Qualified Charitable Donation (QCD)
If you are 70 ½ years or older you may be eligible to make a gift via a qualified charitable donation (QCD) from an IRA. A qualified charitable distribution (QCD) is a type of IRA rollover that allows IRA owners to donate funds to charity while excluding them from their taxable income:
- Eligibility: To be eligible for a QCD, you must be at least 70.5 years old.
- Amount: You can donate up to $105,000 per year to one or more charities.
- Tax benefits: QCDs are tax-free and count toward your required minimum distribution (RMD) if you are at least 73 years old.
- How it works: The funds are sent directly from your IRA custodian to the charity, without passing through your hands.