Are you at least 70½ and looking for a tax-wise way to make a charitable contribution? If so, consider making a qualified charitable distribution, or QCD, from your IRA account.

What Are the Tax Benefits of an IRA Rollover Gift?

An IRA charitable rollover has several significant tax advantages. It allows you to give up to $100,000 directly from your IRA to charity using pre-tax assets. If you do not itemize, or are subject to charitable deduction limits, the IRA rollover still allows you to give in tax-advantaged ways.

Is Making a Rollover Gift Right For You?

Making a gift to charity directly from your IRA comes with a number of advantages, including:

  • It is easy to make—just notify your IRA custodian.
  • You can give from pre-tax assets—which is a nice tax benefit.
  • It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook.
  • It allows you to make a significant gift to support our cause.

How Does the IRA Charitable Rollover Work?

  1. Contact your IRA custodian to tell them you intend to make a “qualified charitable distribution.” Many custodians will provide you with a form that they will ask you to use to complete your gift. If your custodian does not have a form and they ask for written instructions, please contact us. We can provide you with a sample letter that you can use.
  2. Complete your custodian form or letter and mail it back to your IRA custodian.
  3. Once your IRA custodian receives your instructions, they will send your gift to us.

Let Us Know

If you have decided to make an IRA rollover gift to our organization, please let us know. More often than not, IRA custodians send a check without any indication as to the source of the gift. If we know your gift is coming, we can be sure to give you credit for your gift and say thank you.

Are you at least 70½ and looking for a tax-wise way to make a charitable contribution? If so, consider making a qualified charitable distribution, or QCD, from your IRA account.

What Are the Tax Benefits of an IRA Rollover Gift?

An IRA charitable rollover has several significant tax advantages. It allows you to give up to $100,000 directly from your IRA to charity using pre-tax assets. If you do not itemize, or are subject to charitable deduction limits, the IRA rollover still allows you to give in tax-advantaged ways.

Is Making a Rollover Gift Right For You?

Making a gift to charity directly from your IRA comes with a number of advantages, including:

  • It is easy to make—just notify your IRA custodian.
  • You can give from pre-tax assets—which is a nice tax benefit.
  • It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook.
  • It allows you to make a significant gift to support our cause.

How Does the IRA Charitable Rollover Work?

  1. Contact your IRA custodian to tell them you intend to make a “qualified charitable distribution.” Many custodians will provide you with a form that they will ask you to use to complete your gift. If your custodian does not have a form and they ask for written instructions, please contact us. We can provide you with a sample letter that you can use.
  2. Complete your custodian form or letter and mail it back to your IRA custodian.
  3. Once your IRA custodian receives your instructions, they will send your gift to us.

Let Us Know

If you have decided to make an IRA rollover gift to our organization, please let us know. More often than not, IRA custodians send a check without any indication as to the source of the gift. If we know your gift is coming, we can be sure to give you credit for your gift and say thank you.

Can We Help?

To learn more about how to make an IRA charitable rollover gift, please contact us. We would welcome the opportunity to answer further questions and work with you.  Give us a ring at 714-229-3373 or email Legacy@MealsOnWheelsOC.org.