Your IRA can provide a tax-smart way to make an impact with Robin Hood now. The qualified charitable distribution or QCD (sometimes called an “IRA charitable rollover”) is a great way to make a tax-free gift now to Robin Hood and satisfy your required minimum distribution (RMD), too.
How Do I Qualify?
A qualified charitable distribution offers multiple benefits for making gifts from your IRA.
- You must be 70½ years or older at the time of the gift.
- Gifts must go directly from your IRA to Robin Hood.
- For 2024, total QCD gifts cannot exceed $105,000 per donor.
Benefits of Qualified Charitable Distribution
- If you don’t itemize your income tax deductions, a QCD offers all of the benefits of an itemized income tax charitable deduction.
- If you are age 73 or older and must take a required minimum distribution (RMD), a QCD gift can satisfy your RMD without increasing your income taxes.
- You may direct your gift to a program or area of your choice.
- It is a wonderful way to create an immediate impact on Robin Hood.
How Can I Make a Qualified Charitable Distribution (an IRA Charitable Rollover)?
Contact your IRA administrator to request a qualified charitable distribution from your IRA to Robin Hood.