Reduce Your Tax Burden Even if you Don’t Itemize Charitable Deductions
At your direction, the custodian or trustee of your IRA can transfer money from your IRA directly to a qualified public charity like ours so that you can support the causes that matter most to you. This gift is a qualified charitable distribution (QCD), sometimes called an IRA charitable rollover gift.
To make an IRA charitable rollover gift, you must be: at least age 70½, your gift must be made from a traditional or Roth IRA, and you can give up to $100,000 per year.
If you do not have an IRA but have another retirement plan, such as a 401(k) or 403(b), then you can still make a gift to charity from your retirement account. You would first have to make a tax-exempt transfer from your 401(k) or 403(b) to establish an IRA and could then make your gift.
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