Gifts from your IRA

Ways to Give > Planned Giving > Gifts from your IRA

A Special Opportunity

If you are 70 ½, you can give any amount (up to a maximum of $105,000) this year from your IRA directly to a qualified charity such as Faith Christian School without having to pay income taxes on the money. Donations of any value $105,000 or less are eligible for this benefit. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution or QCD for short.

Why Consider This Gift?

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Since the gift does not count as income, it can reduce your annual income level.

If you are at least 59 ½  years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions you can take a charitable deduction for the amount of the gift.