Qualified charitable distributions from your IRA
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Giving from your IRA can be one of the smartest ways to support the causes you love. If you are 70 ½ or older, you can direct up to $111,000 each year straight from your IRA to charity through a Designated Fund at NCF.
This is called a qualified charitable distribution (QCD), sometimes known as an IRA charitable rollover. It lets you support ministry and charity work without adding to your taxable income.
There are real financial upsides too. A QCD can lower your taxable IRA balance, count toward your required minimum distribution, and still let you claim the standard deduction while getting the benefit of the gift.
Here is what to know before you begin:
- You must be at least 70 ½ on the date of the distribution
- The gift must go to a Designated Fund, not a Giving Fund, Supporting Organization, or Private Foundation
- Your IRA custodian – not you – must originate the distribution
- Up to $55,000 of your QCD can fund a Charitable Gift Annuity, a once in a lifetime opportunity
- A written acknowledgment from NCF completes the process