Qualified Charitable Distribution from an IRA
Gifts from your Individual Retirement Account can be given to an eligible charitable organization, like Fenwick.
Up to $100,000 of the gift is excluded from your gross income for tax purposes, these gifts also apply to your required minimum distribution.
How it works:
- You make a distribution directly from an IRA to Fenwick by December 31.
- The distribution counts toward your required minimum distribution.
Are you eligible?
- You are at least 70 1/2 years of age
- The distribution must otherwise by included in gross income
- The distribution must otherwise be fully deductible as a charitable contribution.
- Up to $100,000 is removed from your gross income for income tax purposes.*
- The distribution counts toward your required minimum contribution.