If you are over age 70½, you can make a tax-free gift from your IRA directly to a qualified nonprofit. This type of transfer — up to $108,000 per year — is treated as a qualified charitable distribution (QCD) and can count toward your required minimum distribution (RMD) once you reach age 73. Because the funds go straight from your IRA to the charity, the amount is not included in your taxable income, which may reduce your adjusted gross income (AGI).

To qualify as a charitable IRA rollover, the contribution must:
• Come from a traditional IRA
• Be sent directly from your IRA custodian to an eligible public charity
• Be completed within the same tax year

For your distribution to apply to the current tax year, the nonprofit must receive the funds by December 31.

Project H.O.O.D. does not provide tax, legal, or accounting advice. The information above is offered for educational purposes only. Please consult a tax professional to understand how a charitable IRA rollover may benefit your personal financial situation.

Each year, supporters who qualify for a qualified charitable distribution can transfer up to $108,000 from their IRA to charitable organizations. This total can be directed to a single nonprofit or shared across multiple causes.

Yes. A qualified charitable distribution allows individuals 70½ or older to give up to $108,000 directly from an eligible IRA to a nonprofit and have that amount excluded from federal taxable income. These distributions must be transferred directly from the IRA custodian to the charity to qualify.

Project H.O.O.D. does not provide tax, legal, or accounting advice. Please consult a tax professional to understand how an IRA charitable gift may affect your personal financial situation.

If you are 70½ or older and required to take a minimum distribution from your IRA, a qualified charitable distribution (QCD) can count toward your RMD for the year. You can direct up to $108,000 annually from your IRA to an eligible nonprofit, and that amount may satisfy all or part of your required minimum distribution without increasing your taxable income.

A nonprofit can be named as the beneficiary of your IRA, allowing your retirement funds to support meaningful work in the future. This choice is an easy and powerful way to leave a lasting legacy aligned with your values.